Premier Path Wealth Partners LLC Buys New Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Premier Path Wealth Partners LLC acquired a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 629 shares of the medical equipment provider’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ALGN. Rhenman & Partners Asset Management AB bought a new stake in Align Technology in the 3rd quarter valued at $305,000. Norges Bank purchased a new stake in shares of Align Technology in the fourth quarter worth about $223,610,000. Ameriprise Financial Inc. lifted its position in shares of Align Technology by 348.9% in the third quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider’s stock worth $230,938,000 after buying an additional 587,886 shares in the last quarter. Brown Advisory Inc. boosted its stake in Align Technology by 41.4% during the fourth quarter. Brown Advisory Inc. now owns 1,509,080 shares of the medical equipment provider’s stock valued at $413,488,000 after buying an additional 441,754 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Align Technology by 102.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 414,772 shares of the medical equipment provider’s stock valued at $113,648,000 after buying an additional 209,419 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Trading Down 1.1 %

Shares of NASDAQ ALGN traded down $2.90 during trading hours on Wednesday, reaching $261.12. The stock had a trading volume of 461,009 shares, compared to its average volume of 731,357. The business’s fifty day moving average price is $302.41 and its two-hundred day moving average price is $275.98. The firm has a market cap of $19.66 billion, a price-to-earnings ratio of 43.02, a P/E/G ratio of 4.91 and a beta of 1.66. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $413.20.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results 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 business had revenue of $997.43 million for the quarter, compared to the consensus estimate of $971.97 million. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. Equities research analysts anticipate that Align Technology, Inc. will post 7.92 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the transaction, the director now directly owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALGN. Piper Sandler reissued an “overweight” rating and issued a $375.00 target price (up from $355.00) on shares of Align Technology in a report on Thursday, April 25th. Robert W. Baird lifted their target price on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Stifel Nicolaus increased their price target on Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Morgan Stanley lifted their price objective on shares of Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, UBS Group increased their target price 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $353.00.

Align Technology Company 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.