AE Wealth Management LLC Invests $650,000 in Align Technology, Inc. $ALGN

AE Wealth Management LLC bought a new stake in shares of Align Technology, Inc. (NASDAQ:ALGNFree Report) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 5,190 shares of the medical equipment provider’s stock, valued at approximately $650,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rothschild Investment LLC lifted its stake in Align Technology by 140.3% during the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 87 shares during the period. True Wealth Design LLC raised its holdings in shares of Align Technology by 7,650.0% in the 2nd quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 153 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in shares of Align Technology in the 2nd quarter worth approximately $36,000. MUFG Securities EMEA plc bought a new position in shares of Align Technology during the 2nd quarter worth approximately $38,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in Align Technology in the 3rd quarter valued at $26,000. Institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

ALGN has been the topic of a number of analyst reports. Evercore ISI dropped their price objective on Align Technology from $220.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, November 25th. Wells Fargo & Company lowered their target price on shares of Align Technology from $199.00 to $181.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Barclays initiated coverage on shares of Align Technology in a research report on Monday, December 8th. They set an “equal weight” rating and a $170.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Thursday, October 30th. Finally, Weiss Ratings raised shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 16th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $176.82.

View Our Latest Stock Analysis on Align Technology

Align Technology Stock Up 2.7%

Shares of NASDAQ:ALGN opened at $161.30 on Thursday. The firm has a market cap of $11.57 billion, a P/E ratio of 31.26, a P/E/G ratio of 1.76 and a beta of 1.84. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $232.20. The company’s 50-day moving average price is $161.89 and its two-hundred day moving average price is $148.59.

Align Technology (NASDAQ:ALGNGet Free Report) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $2.44 earnings per share. Align Technology’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

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About Align Technology

(Free Report)

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.

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

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