933 Shares in Align Technology, Inc. (NASDAQ:ALGN) Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 933 shares of the medical equipment provider’s stock, valued at approximately $306,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALGN. Mather Group LLC. bought a new stake in shares of Align Technology in the first quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in Align Technology in the 3rd quarter valued at about $61,000. Venturi Wealth Management LLC boosted its holdings in Align Technology by 97.2% in the 4th quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock valued at $77,000 after purchasing an additional 138 shares during the period. Scarborough Advisors LLC acquired a new position in shares of Align Technology during the 4th quarter worth approximately $86,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Align Technology by 61.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 328 shares of the medical equipment provider’s stock worth $90,000 after purchasing an additional 125 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Trading Down 0.6 %

ALGN opened at $241.43 on Monday. The company has a market cap of $18.17 billion, a P/E ratio of 39.77, a PEG ratio of 4.47 and a beta of 1.62. The company’s 50 day moving average is $266.69 and its 200-day moving average is $284.07. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. UBS Group increased their price target on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Robert W. Baird increased their target price on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Morgan Stanley boosted their price target on Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Piper Sandler reduced their price objective on shares of Align Technology from $375.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Finally, OTR Global restated a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $346.50.

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.