EverSource Wealth Advisors LLC Increases Stake in Align Technology, Inc. (NASDAQ:ALGN)

EverSource Wealth Advisors LLC increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 148.9% in the fourth quarter, Holdings Channel reports. The firm owned 560 shares of the medical equipment provider’s stock after purchasing an additional 335 shares during the period. EverSource Wealth Advisors LLC’s holdings in Align Technology were worth $117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. True Wealth Design LLC lifted its stake in shares of Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 107 shares during the period. Neo Ivy Capital Management purchased a new position in Align Technology in the 3rd quarter worth $32,000. Private Trust Co. NA raised its stake in Align Technology by 113.4% in the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 93 shares during the last quarter. Versant Capital Management Inc lifted its position in Align Technology by 212.2% during the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 157 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Align Technology during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Bank of America lifted 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. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Evercore ISI increased their price objective on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley decreased their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Mizuho started coverage on Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.91.

Align Technology Stock Performance

Shares of Align Technology stock opened at $169.59 on Tuesday. The firm has a 50-day simple moving average of $202.63 and a two-hundred day simple moving average of $218.32. Align Technology, Inc. has a fifty-two week low of $158.13 and a fifty-two week high of $335.40. The company has a market cap of $12.48 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. Equities research analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology 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.