Wealth Enhancement Advisory Services LLC Has $1.63 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.2% during the fourth quarter, HoldingsChannel reports. The fund owned 7,799 shares of the medical equipment provider’s stock after purchasing an additional 91 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Align Technology were worth $1,626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALGN. DekaBank Deutsche Girozentrale increased its position in Align Technology by 5.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 15,256 shares of the medical equipment provider’s stock valued at $3,697,000 after purchasing an additional 842 shares during the period. Dimensional Fund Advisors LP raised its stake in Align Technology by 13.7% during the second quarter. Dimensional Fund Advisors LP now owns 264,524 shares of the medical equipment provider’s stock worth $63,873,000 after buying an additional 31,948 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in Align Technology by 186.9% in the second quarter. Citizens Financial Group Inc. RI now owns 3,058 shares of the medical equipment provider’s stock valued at $738,000 after buying an additional 1,992 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Align Technology by 0.9% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,093 shares of the medical equipment provider’s stock valued at $2,195,000 after buying an additional 79 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Align Technology by 9.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,148 shares of the medical equipment provider’s stock valued at $2,209,000 after acquiring an additional 762 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Up 2.5 %

Shares of ALGN stock opened at $215.78 on Thursday. The firm has a fifty day simple moving average of $222.28 and a two-hundred day simple moving average of $228.53. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40. The firm has a market capitalization of $16.11 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 6.20 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The company had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 EPS. On average, equities analysts predict that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALGN. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Bank of America boosted their price target on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Robert W. Baird reduced their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Evercore ISI lowered their price objective on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.20.

About Align Technology

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.