M Holdings Securities Inc. Buys Shares of 514 Align Technology, Inc. (NASDAQ:ALGN)

M Holdings Securities Inc. bought a new stake in shares of Align Technology, Inc. (NASDAQ:ALGNGet Rating) in the 1st quarter, HoldingsChannel reports. The fund bought 514 shares of the medical equipment provider’s stock, valued at approximately $224,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Tsfg LLC increased its stake in Align Technology by 200.0% during the first quarter. Tsfg LLC now owns 75 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 50 shares during the last quarter. SOA Wealth Advisors LLC. boosted its holdings in shares of Align Technology by 3,733.3% during the first quarter. SOA Wealth Advisors LLC. now owns 115 shares of the medical equipment provider’s stock valued at $50,000 after acquiring an additional 112 shares during the period. Allworth Financial LP boosted its holdings in shares of Align Technology by 11,400.0% during the first quarter. Allworth Financial LP now owns 115 shares of the medical equipment provider’s stock valued at $50,000 after acquiring an additional 114 shares during the period. Bank of New Hampshire acquired a new position in shares of Align Technology during the first quarter valued at $55,000. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Align Technology during the first quarter valued at $59,000. Institutional investors own 86.50% of the company’s stock.

Align Technology Trading Down 1.2 %

Shares of NASDAQ ALGN opened at $249.02 on Monday. Align Technology, Inc. has a twelve month low of $225.86 and a twelve month high of $737.45. The company has a market capitalization of $19.45 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 7.43 and a beta of 1.80. The firm has a 50-day moving average of $264.80 and a two-hundred day moving average of $309.52.

Align Technology (NASDAQ:ALGNGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The medical equipment provider reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.23). Align Technology had a net margin of 15.52% and a return on equity of 17.47%. The business had revenue of $969.60 million during the quarter, compared to analyst estimates of $986.05 million. During the same period in the previous year, the company posted $2.51 earnings per share. Align Technology’s revenue was down 3.0% compared to the same quarter last year. As a group, research analysts predict that Align Technology, Inc. will post 7.76 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ALGN shares. Robert W. Baird reduced their price target on shares of Align Technology from $450.00 to $410.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. Stifel Nicolaus reduced their price target on shares of Align Technology from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, July 14th. Stephens reduced their price target on shares of Align Technology from $500.00 to $375.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. The Goldman Sachs Group downgraded shares of Align Technology from a “buy” rating to a “sell” rating and reduced their price objective for the stock from $380.00 to $250.00 in a report on Thursday, July 28th. Finally, Piper Sandler reduced their price objective on shares of Align Technology from $370.00 to $340.00 and set an “overweight” rating for the company in a report on Friday, September 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $358.33.

Align Technology Company Profile

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Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

Further Reading

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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