MONECO Advisors LLC Purchases 89 Shares of Align Technology, Inc. (NASDAQ:ALGN)

MONECO Advisors LLC raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 4.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,220 shares of the medical equipment provider’s stock after buying an additional 89 shares during the quarter. MONECO Advisors LLC’s holdings in Align Technology were worth $608,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. EFG Asset Management Americas Corp. grew its holdings in Align Technology by 3.6% during the 4th quarter. EFG Asset Management Americas Corp. now owns 1,167 shares of the medical equipment provider’s stock valued at $320,000 after buying an additional 41 shares in the last quarter. Dfpg Investments LLC grew its holdings in shares of Align Technology by 3.3% during the fourth quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock worth $340,000 after purchasing an additional 42 shares in the last quarter. Richard W. Paul & Associates LLC grew its holdings in shares of Align Technology by 2.8% during the fourth quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider’s stock worth $457,000 after purchasing an additional 45 shares in the last quarter. Valley National Advisers Inc. grew its holdings in shares of Align Technology by 29.7% during the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock worth $65,000 after purchasing an additional 49 shares in the last quarter. Finally, Jag Capital Management LLC grew its holdings in shares of Align Technology by 4.1% during the third quarter. Jag Capital Management LLC now owns 1,258 shares of the medical equipment provider’s stock worth $384,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Down 4.1 %

Shares of Align Technology stock opened at $245.52 on Tuesday. The company has a market cap of $18.48 billion, a PE ratio of 40.45, a P/E/G ratio of 4.74 and a beta of 1.62. The business has a 50 day moving average of $279.46 and a 200 day moving average of $282.72. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. The company had revenue of $997.43 million during 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%. On average, research analysts anticipate that Align Technology, Inc. will post 7.86 earnings per share for the current year.

Analyst Ratings Changes

ALGN has been the subject of several recent analyst reports. SVB Leerink started coverage on Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 price objective for the company. Robert W. Baird upped their target price on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Evercore ISI lowered their price objective on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 10th. OTR Global reiterated a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. Finally, UBS Group boosted their price objective on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $351.00.

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.