Arkadios Wealth Advisors Increases Position in Align Technology, Inc. (NASDAQ:ALGN)

Arkadios Wealth Advisors boosted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 13.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,397 shares of the medical equipment provider’s stock after acquiring an additional 164 shares during the period. Arkadios Wealth Advisors’ holdings in Align Technology were worth $291,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC lifted its position in shares of Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Align Technology in the 3rd quarter valued at $32,000. Quarry LP lifted its holdings in shares of Align Technology by 53.0% in the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 44 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in Align Technology during the 2nd quarter worth $31,000. Finally, CVA Family Office LLC increased its stake in Align Technology by 85.2% in the third quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 69 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ALGN shares. Morgan Stanley lowered their price objective on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus decreased their price objective on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Mizuho began coverage on Align Technology in a report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price target for the company. Finally, Piper Sandler lowered their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and an average price target of $267.45.

Align Technology Trading Up 1.2 %

Shares of NASDAQ ALGN opened at $234.89 on Friday. The company has a market cap of $17.53 billion, a P/E ratio of 40.08, a P/E/G ratio of 5.00 and a beta of 1.67. Align Technology, Inc. has a 12-month low of $196.09 and a 12-month high of $335.40. The stock has a fifty day moving average price of $222.61 and a 200 day moving average price of $227.87.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. The company had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The company’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $1.62 earnings per share. On average, sell-side analysts forecast that Align Technology, Inc. will post 7.48 EPS 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.