Align Technology, Inc. (NASDAQ:ALGN) Stake Raised by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 28.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 878 shares of the medical equipment provider’s stock after buying an additional 195 shares during the period. Kestra Private Wealth Services LLC’s holdings in Align Technology were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gradient Investments LLC raised its holdings in Align Technology by 1,428.6% during the first quarter. Gradient Investments LLC now owns 107 shares of the medical equipment provider’s stock worth $47,000 after purchasing an additional 100 shares in the last quarter. Ninety One UK Ltd raised its holdings in Align Technology by 13.9% during the first quarter. Ninety One UK Ltd now owns 43,455 shares of the medical equipment provider’s stock worth $18,946,000 after purchasing an additional 5,315 shares in the last quarter. M Holdings Securities Inc. bought a new stake in Align Technology during the first quarter worth approximately $224,000. Advisory Services Network LLC raised its holdings in Align Technology by 318.9% during the first quarter. Advisory Services Network LLC now owns 1,797 shares of the medical equipment provider’s stock worth $785,000 after purchasing an additional 1,368 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Align Technology by 68.3% during the first quarter. The Manufacturers Life Insurance Company now owns 121,918 shares of the medical equipment provider’s stock worth $53,366,000 after purchasing an additional 49,487 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Align Technology Stock Down 4.9 %

Align Technology stock opened at $232.22 on Wednesday. The company’s fifty day simple moving average is $264.69 and its 200-day simple moving average is $306.78. Align Technology, Inc. has a 12 month low of $225.86 and a 12 month high of $737.45. The stock has a market cap of $18.14 billion, a P/E ratio of 30.54, a P/E/G ratio of 7.43 and a beta of 1.80.

Align Technology (NASDAQ:ALGNGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The medical equipment provider reported $2.00 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.23). Align Technology had a net margin of 15.52% and a return on equity of 17.47%. The company had revenue of $969.60 million for the quarter, compared to analysts’ expectations of $986.05 million. During the same quarter in the prior year, the firm earned $2.51 earnings per share. The company’s revenue was down 3.0% on a year-over-year basis. On average, equities research analysts expect that Align Technology, Inc. will post 7.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Piper Sandler dropped their price target on Align Technology from $370.00 to $340.00 and set an “overweight” rating on the stock in a report on Friday, September 9th. Evercore ISI dropped their price target on Align Technology from $310.00 to $285.00 in a report on Thursday, July 28th. Morgan Stanley dropped their price target on Align Technology from $438.00 to $402.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. UBS Group lowered their price objective on shares of Align Technology from $380.00 to $370.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. Finally, The Goldman Sachs Group cut shares of Align Technology from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $380.00 to $250.00 in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and an average target price of $358.33.

Align Technology 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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