HB Wealth Management LLC Buys 4,240 Shares of Align Technology, Inc. $ALGN

HB Wealth Management LLC grew its stake in Align Technology, Inc. (NASDAQ:ALGN) by 245.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,969 shares of the medical equipment provider’s stock after purchasing an additional 4,240 shares during the quarter. HB Wealth Management LLC’s holdings in Align Technology were worth $748,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ALGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Align Technology by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock worth $1,624,000 after buying an additional 469 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of Align Technology by 5.2% during the 1st quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock worth $486,000 after acquiring an additional 151 shares during the period. Strs Ohio bought a new position in shares of Align Technology in the 1st quarter worth approximately $794,000. Inspire Investing LLC lifted its stake in shares of Align Technology by 59.8% in the 1st quarter. Inspire Investing LLC now owns 2,013 shares of the medical equipment provider’s stock valued at $320,000 after purchasing an additional 753 shares during the period. Finally, Voya Investment Management LLC lifted its stake in shares of Align Technology by 23.3% in the 1st quarter. Voya Investment Management LLC now owns 81,297 shares of the medical equipment provider’s stock valued at $12,915,000 after purchasing an additional 15,355 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ALGN shares. Stifel Nicolaus set a $200.00 target price on shares of Align Technology in a research report on Thursday, October 30th. Mizuho cut their price objective on shares of Align Technology from $210.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, October 13th. Wells Fargo & Company decreased their target price on shares of Align Technology from $199.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Weiss Ratings cut Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Finally, Barclays initiated coverage on Align Technology in a research note on Monday, December 8th. They issued an “equal weight” rating and a $170.00 price target on the stock. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $172.18.

Align Technology Stock Down 0.5%

NASDAQ ALGN opened at $172.00 on Tuesday. The company has a 50-day moving average price of $152.26 and a 200-day moving average price of $151.67. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $237.23. The firm has a market capitalization of $12.34 billion, a P/E ratio of 33.33, a PEG ratio of 1.95 and a beta of 1.83.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The company had revenue of $995.69 million during the quarter, compared to analyst estimates of $980.75 million. During the same period in the previous year, the business posted $2.35 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

About Align Technology

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.