Wedmont Private Capital Purchases 158 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Wedmont Private Capital lifted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 12.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,409 shares of the medical equipment provider’s stock after buying an additional 158 shares during the period. Wedmont Private Capital’s holdings in Align Technology were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Moody National Bank Trust Division boosted its stake in shares of Align Technology by 1.8% in the first quarter. Moody National Bank Trust Division now owns 2,107 shares of the medical equipment provider’s stock valued at $691,000 after buying an additional 38 shares during the period. Mather Group LLC. boosted its stake in shares of Align Technology by 52.5% in the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 42 shares during the period. Quarry LP boosted its stake in shares of Align Technology by 53.0% in the second quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock valued at $31,000 after buying an additional 44 shares during the period. Crewe Advisors LLC boosted its stake in shares of Align Technology by 36.8% in the second quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock valued at $41,000 after buying an additional 46 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Align Technology by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider’s stock valued at $2,143,000 after buying an additional 54 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Performance

Shares of ALGN opened at $222.04 on Friday. The stock has a market capitalization of $16.59 billion, a price-to-earnings ratio of 37.70, a PEG ratio of 5.33 and a beta of 1.64. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $335.40. The stock has a fifty day moving average of $233.68 and a 200-day moving average of $256.77.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.09. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. Align Technology’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $1.73 EPS. As a group, equities analysts forecast that Align Technology, Inc. will post 7.61 EPS for the current year.

Insider Buying and Selling

In related news, Director C Raymond Larkin, Jr. bought 6,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the transaction, the director now directly owns 28,247 shares in the company, valued at approximately $6,647,366.51. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Evercore ISI cut their target price on Align Technology from $280.00 to $270.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Needham & Company LLC assumed coverage on Align Technology in a research note on Thursday. They set a “hold” rating for the company. Stifel Nicolaus cut their target price on Align Technology from $350.00 to $285.00 and set a “buy” rating for the company in a research note on Friday. Finally, Robert W. Baird cut their target price on Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Align Technology presently has an average rating of “Hold” and a consensus target price of $295.00.

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.