Wealth Enhancement Advisory Services LLC Acquires 697 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Wealth Enhancement Advisory Services LLC increased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 12.5% in the 1st quarter, Holdings Channel reports. The fund owned 6,294 shares of the medical equipment provider’s stock after buying an additional 697 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Align Technology were worth $2,064,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Moody National Bank Trust Division increased its stake in shares of Align Technology by 1.8% in the 1st quarter. Moody National Bank Trust Division now owns 2,107 shares of the medical equipment provider’s stock worth $691,000 after acquiring an additional 38 shares in the last quarter. EFG Asset Management Americas Corp. increased its stake in shares of Align Technology by 3.6% in the 4th quarter. EFG Asset Management Americas Corp. now owns 1,167 shares of the medical equipment provider’s stock worth $320,000 after acquiring an additional 41 shares in the last quarter. Dfpg Investments LLC increased its stake in Align Technology by 3.3% during the 4th quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock valued at $340,000 after purchasing an additional 42 shares in the last quarter. Richard W. Paul & Associates LLC increased its stake in Align Technology by 2.8% during the 4th quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider’s stock valued at $457,000 after purchasing an additional 45 shares in the last quarter. Finally, Jag Capital Management LLC increased its stake in Align Technology by 4.1% during the 3rd quarter. Jag Capital Management LLC now owns 1,258 shares of the medical equipment provider’s stock valued at $384,000 after purchasing an additional 50 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Trading Up 1.5 %

ALGN opened at $243.37 on Friday. The company has a market cap of $18.32 billion, a price-to-earnings ratio of 40.09, a PEG ratio of 4.44 and a beta of 1.66. The company’s 50 day moving average is $262.59 and its 200 day moving average is $283.55. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.08. The company had revenue of $997.43 million for the quarter, compared to the consensus estimate of $971.97 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. As a group, analysts predict that Align Technology, Inc. will post 7.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ALGN. UBS Group raised their price objective on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Stifel Nicolaus raised their price objective on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Morgan Stanley raised their price objective on shares of Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Piper Sandler dropped their price target on shares of Align Technology from $375.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Finally, OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $346.50.

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.