Arkadios Wealth Advisors Acquires 293 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Arkadios Wealth Advisors raised its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 31.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,233 shares of the medical equipment provider’s stock after purchasing an additional 293 shares during the quarter. Arkadios Wealth Advisors’ holdings in Align Technology were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of ALGN. Wealth Enhancement Advisory Services LLC lifted its position in Align Technology by 12.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,294 shares of the medical equipment provider’s stock valued at $2,064,000 after purchasing an additional 697 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Align Technology by 43.4% in the 1st quarter. First Trust Direct Indexing L.P. now owns 2,010 shares of the medical equipment provider’s stock worth $659,000 after acquiring an additional 608 shares during the last quarter. Marshall Financial Group LLC bought a new stake in shares of Align Technology in the 1st quarter worth about $210,000. Commonwealth Equity Services LLC lifted its holdings in shares of Align Technology by 6.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 7,162 shares of the medical equipment provider’s stock worth $2,349,000 after acquiring an additional 433 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Align Technology by 20.0% in the 1st quarter. Van ECK Associates Corp now owns 8,241 shares of the medical equipment provider’s stock worth $2,702,000 after acquiring an additional 1,372 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

NASDAQ ALGN opened at $210.86 on Thursday. The company has a market capitalization of $15.75 billion, a price-to-earnings ratio of 35.98, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64. The company’s 50-day simple moving average is $232.03 and its two-hundred day simple moving average is $247.17. Align Technology, Inc. has a one year low of $178.52 and a one year high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The business had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. Equities analysts expect that Align Technology, Inc. will post 7.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. bought 6,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the transaction, the director now owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

ALGN has been the subject of several analyst reports. Evercore ISI lowered their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Piper Sandler lowered their target price on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, October 24th. Finally, Robert W. Baird reduced their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Align Technology has a consensus rating of “Hold” and an average price target of $276.38.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.