Wealth Enhancement Advisory Services LLC Buys 91 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Wealth Enhancement Advisory Services LLC boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,799 shares of the medical equipment provider’s stock after buying an additional 91 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Align Technology were worth $1,626,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Baker Avenue Asset Management LP acquired a new stake in shares of Align Technology during the third quarter worth $4,250,000. Swedbank AB raised its stake in Align Technology by 30.1% in the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after purchasing an additional 90,000 shares in the last quarter. KBC Group NV boosted its holdings in Align Technology by 11.8% in the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock valued at $13,595,000 after purchasing an additional 5,663 shares during the period. Nordea Investment Management AB grew its position in shares of Align Technology by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock worth $56,870,000 after purchasing an additional 9,139 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Align Technology by 2.6% during the third quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock worth $26,900,000 after purchasing an additional 2,717 shares during the period. 88.43% of the stock is owned by institutional investors.

Align Technology Trading Up 2.5 %

ALGN opened at $215.78 on Thursday. The company has a market cap of $16.11 billion, a P/E ratio of 36.82, a PEG ratio of 6.20 and a beta of 1.67. The company’s 50 day moving average is $222.28 and its 200-day moving average is $228.53. Align Technology, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The firm had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the business posted $1.62 earnings per share. On average, equities analysts forecast that Align Technology, Inc. will post 7.45 EPS for the current year.

Analyst Upgrades and Downgrades

ALGN has been the subject of several recent research reports. Morgan Stanley cut their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Mizuho initiated coverage on Align Technology in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price target on the stock. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Stifel Nicolaus decreased their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $268.20.

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.