1,271 Shares in Align Technology, Inc. (NASDAQ:ALGN) Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,271 shares of the medical equipment provider’s stock, valued at approximately $348,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Capital Management LLC purchased a new position in shares of Align Technology during the third quarter valued at approximately $61,000. Operose Advisors LLC bought a new position in Align Technology in the 3rd quarter worth $63,000. Covestor Ltd lifted its position in shares of Align Technology by 379.5% in the 3rd quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock worth $64,000 after purchasing an additional 167 shares during the period. Valley National Advisers Inc. boosted its stake in shares of Align Technology by 29.7% during the 3rd quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock valued at $65,000 after purchasing an additional 49 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Align Technology by 97.2% during the fourth quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock valued at $77,000 after buying an additional 138 shares during the period. Institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ALGN shares. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Stifel Nicolaus increased their price objective on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. SVB Leerink assumed coverage on shares of Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 target price on the stock. Robert W. Baird increased their price target on shares of Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Finally, OTR Global reissued a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and an average price target of $351.00.

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $242.61 on Friday. The firm’s 50 day moving average price is $274.34 and its 200-day moving average price is $282.31. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $413.20. The company has a market cap of $18.26 billion, a PE ratio of 39.97, a P/E/G ratio of 4.48 and a beta of 1.62.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.08. The business had revenue of $997.43 million for the quarter, compared to analysts’ expectations of $971.97 million. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. On average, analysts forecast that Align Technology, Inc. will post 7.86 earnings per share for the current fiscal year.

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.