Align Technology, Inc. (NASDAQ:ALGN) Stock Position Boosted by WMS Partners LLC

WMS Partners LLC boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 97.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,907 shares of the medical equipment provider’s stock after buying an additional 4,900 shares during the period. WMS Partners LLC’s holdings in Align Technology were worth $3,249,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALGN. Parnassus Investments LLC boosted its position 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 valued at $108,669,000 after purchasing an additional 40,406 shares in the last quarter. London & Capital Asset Management Ltd boosted its position in shares of Align Technology by 7.1% during the 4th quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock valued at $15,899,000 after purchasing an additional 3,843 shares in the last quarter. Truist Financial Corp boosted its position in shares of Align Technology by 24.8% during the 4th quarter. Truist Financial Corp now owns 11,165 shares of the medical equipment provider’s stock valued at $3,059,000 after purchasing an additional 2,220 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Align Technology in the fourth quarter worth about $1,197,000. Finally, Norden Group LLC boosted its holdings in shares of Align Technology by 3,647.7% in the first quarter. Norden Group LLC now owns 36,540 shares of the medical equipment provider’s stock worth $11,982,000 after buying an additional 35,565 shares during the period. Institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

ALGN traded up $7.20 during midday trading on Tuesday, hitting $231.16. 1,253,119 shares of the company’s stock traded hands, compared to its average volume of 783,815. The company has a market cap of $17.40 billion, a PE ratio of 38.08, a price-to-earnings-growth ratio of 4.88 and a beta of 1.66. The stock’s fifty day simple moving average is $247.50 and its 200-day simple moving average is $279.96. Align Technology, Inc. has a one year low of $176.34 and a one year high of $384.90.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 earnings per share. On average, research analysts expect that Align Technology, Inc. will post 7.84 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on ALGN shares. Stifel Nicolaus decreased their target price on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Robert W. Baird decreased their target price on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Piper Sandler decreased their target price on shares of Align Technology from $330.00 to $315.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. UBS Group increased their price target on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Finally, Morgan Stanley reduced their price target on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $322.78.

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.