Venturi Wealth Management LLC Acquires 161 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Venturi Wealth Management LLC boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 53.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 465 shares of the medical equipment provider’s stock after acquiring an additional 161 shares during the period. Venturi Wealth Management LLC’s holdings in Align Technology were worth $97,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. True Wealth Design LLC boosted its stake in shares of Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 107 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Align Technology in the third quarter worth about $32,000. Versant Capital Management Inc boosted its position in Align Technology by 212.2% during the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after acquiring an additional 157 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Align Technology during the 4th quarter worth approximately $52,000. Finally, Quarry LP raised its position in shares of Align Technology by 74.8% in the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 95 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ALGN shares. Evercore ISI lifted their price target on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Piper Sandler dropped their target price on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Jefferies Financial Group cut their price objective on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Finally, Morgan Stanley lowered their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $269.91.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $190.43 on Monday. Align Technology, Inc. has a 1 year low of $186.82 and a 1 year high of $335.40. The company has a market cap of $14.22 billion, a P/E ratio of 33.94, a PEG ratio of 2.33 and a beta of 1.67. The stock’s fifty day moving average price is $215.05 and its 200-day moving average price is $224.43.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. On average, sell-side analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

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.