Washington Capital Management Inc. Invests $313,000 in Align Technology, Inc. (NASDAQ:ALGN)

Washington Capital Management Inc. acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,500 shares of the medical equipment provider’s stock, valued at approximately $313,000.

Several other hedge funds have also added to or reduced their stakes in ALGN. Swedbank AB increased its holdings in shares of Align Technology by 25.0% in the fourth quarter. Swedbank AB now owns 486,267 shares of the medical equipment provider’s stock worth $101,392,000 after acquiring an additional 97,152 shares in the last quarter. Blue Trust Inc. grew its position in shares of Align Technology by 41.4% in the 4th quarter. Blue Trust Inc. now owns 803 shares of the medical equipment provider’s stock valued at $167,000 after purchasing an additional 235 shares during the period. Inspire Investing LLC increased its stake in Align Technology by 11.1% during the 4th quarter. Inspire Investing LLC now owns 1,260 shares of the medical equipment provider’s stock worth $263,000 after purchasing an additional 126 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Align Technology by 174.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 631 shares of the medical equipment provider’s stock worth $132,000 after buying an additional 401 shares during the period. Finally, Trust Co. of Vermont lifted its stake in Align Technology by 332.5% in the fourth quarter. Trust Co. of Vermont now owns 692 shares of the medical equipment provider’s stock valued at $144,000 after buying an additional 532 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ALGN shares. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Bank of America increased their target price on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Piper Sandler cut their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Mizuho began coverage on Align Technology in a report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective for the company. Finally, Jefferies Financial Group cut their target price on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $267.45.

Align Technology Trading Down 0.8 %

NASDAQ:ALGN opened at $224.45 on Thursday. The firm has a fifty day simple moving average of $223.13 and a 200 day simple moving average of $227.22. Align Technology, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40. The stock has a market capitalization of $16.76 billion, a PE ratio of 38.30, a P/E/G ratio of 5.14 and a beta of 1.67.

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.