Wedmont Private Capital Increases Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Wedmont Private Capital grew its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 4.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,250 shares of the medical equipment provider’s stock after acquiring an additional 57 shares during the period. Wedmont Private Capital’s holdings in Align Technology were worth $413,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parnassus Investments LLC grew its holdings in shares of Align Technology by 11.3% during the 4th quarter. Parnassus Investments LLC now owns 396,603 shares of the medical equipment provider’s stock worth $108,669,000 after acquiring an additional 40,406 shares during the period. Deepwater Asset Management LLC grew its holdings in shares of Align Technology by 46.8% during the 4th quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock worth $13,421,000 after acquiring an additional 15,608 shares during the period. London & Capital Asset Management Ltd boosted its position in shares of Align Technology by 7.1% in the 4th quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock worth $15,899,000 after purchasing an additional 3,843 shares in the last quarter. Morgan Stanley boosted its position in shares of Align Technology by 9.8% in the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock worth $310,866,000 after purchasing an additional 90,581 shares in the last quarter. Finally, Truist Financial Corp boosted its position in shares of Align Technology by 24.8% in the 4th quarter. Truist Financial Corp now owns 11,165 shares of the medical equipment provider’s stock worth $3,059,000 after purchasing an additional 2,220 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group boosted their price target on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. OTR Global reissued a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. Piper Sandler dropped their price target on Align Technology from $375.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday. SVB Leerink assumed coverage on Align Technology in a research report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target on the stock. Finally, Stifel Nicolaus boosted their price target on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $346.50.

Align Technology Trading Down 0.2 %

ALGN stock opened at $242.19 on Friday. The stock has a market capitalization of $18.23 billion, a PE ratio of 39.90, a price-to-earnings-growth ratio of 4.48 and a beta of 1.62. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The stock’s 50 day simple moving average is $272.89 and its 200 day simple moving average is $282.47.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.08. The firm had revenue of $997.43 million for the quarter, compared to analysts’ expectations of $971.97 million. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. On average, research analysts predict that Align Technology, Inc. will post 7.86 earnings per share for the current year.

Align Technology 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.