Wealth Enhancement Advisory Services LLC Boosts Stake in Align Technology, Inc. $ALGN

Wealth Enhancement Advisory Services LLC grew its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 63.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,343 shares of the medical equipment provider’s stock after buying an additional 9,792 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Align Technology were worth $4,282,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALGN. Capital International Investors increased its position in shares of Align Technology by 88.6% during the third quarter. Capital International Investors now owns 3,050,373 shares of the medical equipment provider’s stock valued at $381,968,000 after acquiring an additional 1,433,393 shares during the last quarter. Holocene Advisors LP purchased a new position in Align Technology in the third quarter worth $179,035,000. Norges Bank bought a new position in Align Technology in the 2nd quarter valued at $155,297,000. Bank of America Corp DE grew its stake in Align Technology by 72.0% in the 3rd quarter. Bank of America Corp DE now owns 1,353,125 shares of the medical equipment provider’s stock valued at $169,438,000 after purchasing an additional 566,488 shares during the period. Finally, Invesco Ltd. increased its position in shares of Align Technology by 37.4% during the 3rd quarter. Invesco Ltd. now owns 1,497,535 shares of the medical equipment provider’s stock valued at $187,521,000 after purchasing an additional 407,559 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Insider Activity

In related news, EVP John Morici sold 7,969 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the sale, the executive vice president directly owned 8,237 shares in the company, valued at approximately $1,559,346.47. The trade was a 49.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Mizuho raised their price objective on shares of Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Weiss Ratings raised shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Stifel Nicolaus boosted their target price on shares of Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Finally, Wells Fargo & Company increased their target price on shares of Align Technology from $181.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $198.08.

Align Technology Trading Down 0.1%

Align Technology stock opened at $166.26 on Tuesday. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of 29.37, a P/E/G ratio of 1.81 and a beta of 1.79. The firm has a 50 day simple moving average of $177.04 and a 200 day simple moving average of $156.20.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm posted $2.44 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.