Commonwealth Equity Services LLC Has $1.20 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Commonwealth Equity Services LLC decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 16.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,757 shares of the medical equipment provider’s stock after selling 1,119 shares during the period. Commonwealth Equity Services LLC’s holdings in Align Technology were worth $1,200,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ALGN. Smartleaf Asset Management LLC increased its holdings in Align Technology by 9.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider’s stock valued at $158,000 after purchasing an additional 64 shares during the last quarter. Beech Hill Advisors Inc. increased its stake in shares of Align Technology by 0.6% in the 4th quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock valued at $2,425,000 after acquiring an additional 65 shares during the last quarter. New York Life Investment Management LLC raised its position in shares of Align Technology by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider’s stock valued at $1,961,000 after acquiring an additional 68 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Align Technology by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider’s stock worth $1,626,000 after acquiring an additional 91 shares during the last quarter. Finally, Private Trust Co. NA grew its holdings in Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ALGN. Wells Fargo & Company started coverage on shares of Align Technology in a report on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price on the stock. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Piper Sandler reissued an “overweight” rating and issued a $235.00 target price (down from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. Mizuho dropped their price target on Align Technology from $295.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Finally, Morgan Stanley decreased their price objective on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and a consensus price target of $262.64.

Align Technology Stock Down 3.1 %

Shares of ALGN opened at $159.21 on Monday. Align Technology, Inc. has a twelve month low of $157.57 and a twelve month high of $331.64. The stock has a market capitalization of $11.72 billion, a P/E ratio of 28.38, a P/E/G ratio of 2.24 and a beta of 1.69. The company has a 50 day moving average of $193.72 and a 200-day moving average of $214.48.

Align Technology (NASDAQ:ALGN) last released its 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 net margin of 10.54% and a return on equity of 13.84%. On average, sell-side analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

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.