U.S. Capital Wealth Advisors LLC Takes Position in Align Technology, Inc. (NASDAQ:ALGN)

U.S. Capital Wealth Advisors LLC purchased a new position in Align Technology, Inc. (NASDAQ:ALGN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,493 shares of the medical equipment provider’s stock, valued at approximately $311,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position in Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 107 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Align Technology in the third quarter worth about $32,000. CVA Family Office LLC grew its position in Align Technology by 85.2% in the third quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 69 shares in the last quarter. Mather Group LLC. grew its position in Align Technology by 51.6% in the third quarter. Mather Group LLC. now owns 185 shares of the medical equipment provider’s stock worth $47,000 after acquiring an additional 63 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Align Technology by 74.8% during the third quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

ALGN has been the subject of several recent analyst reports. Jefferies Financial Group dropped their target price on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Piper Sandler dropped their target price on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Thursday. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Finally, Evercore ISI lifted their price target on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $271.40.

Align Technology Stock Up 0.9 %

Shares of NASDAQ:ALGN opened at $218.38 on Friday. The company has a market capitalization of $16.30 billion, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 4.80 and a beta of 1.67. Align Technology, Inc. has a 52 week low of $196.09 and a 52 week high of $335.40. The firm has a 50 day moving average of $221.92 and a 200 day moving average of $226.15.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.99% and a net margin of 11.15%. On average, sell-side analysts expect that Align Technology, Inc. will post 7.47 EPS 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.