Wilmington Savings Fund Society FSB Invests $78,000 in Align Technology, Inc. (NASDAQ:ALGN)

Wilmington Savings Fund Society FSB bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 306 shares of the medical equipment provider’s stock, valued at approximately $78,000.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in Align Technology by 150.9% in the 2nd quarter. Blue Trust Inc. now owns 133 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 80 shares in the last quarter. Laurus Investment Counsel Inc. raised its stake in shares of Align Technology by 79.1% in the 2nd quarter. Laurus Investment Counsel Inc. now owns 32,185 shares of the medical equipment provider’s stock valued at $7,770,000 after purchasing an additional 14,210 shares during the period. Banque Pictet & Cie SA lifted its holdings in shares of Align Technology by 86.8% in the second quarter. Banque Pictet & Cie SA now owns 23,269 shares of the medical equipment provider’s stock valued at $5,618,000 after purchasing an additional 10,815 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Align Technology by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock worth $277,230,000 after buying an additional 15,540 shares during the period. Finally, ABLE Financial Group LLC grew its holdings in shares of Align Technology by 3.6% during the second quarter. ABLE Financial Group LLC now owns 2,998 shares of the medical equipment provider’s stock worth $724,000 after buying an additional 104 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

ALGN has been the topic of a number of recent research reports. Piper Sandler lowered their price objective on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Robert W. Baird decreased their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Bank of America upped their price objective on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Mizuho initiated coverage on shares of Align Technology in a report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price on the stock. Finally, Morgan Stanley dropped their price target on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Align Technology has a consensus rating of “Hold” and an average target price of $271.20.

Align Technology Stock Performance

NASDAQ ALGN opened at $211.06 on Friday. The stock has a market cap of $15.76 billion, a PE ratio of 36.02, a P/E/G ratio of 6.20 and a beta of 1.66. The firm has a 50-day moving average of $222.95 and a 200-day moving average of $233.20. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The firm had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. During the same period last year, the business posted $1.62 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, analysts predict that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

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.