Prospera Private Wealth LLC Acquires Shares of 450 Align Technology, Inc. (NASDAQ:ALGN)

Prospera Private Wealth LLC bought a new position in Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 450 shares of the medical equipment provider’s stock, valued at approximately $114,000.

Other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. boosted its position in Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 94 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Align Technology during the 2nd quarter valued at about $26,000. Rothschild Investment LLC bought a new stake in shares of Align Technology in the 2nd quarter valued at approximately $26,000. Versant Capital Management Inc increased its holdings in Align Technology by 547.1% in the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 93 shares during the last quarter. Finally, LRI Investments LLC bought a new position in Align Technology during the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Price Performance

ALGN stock opened at $228.39 on Friday. The stock has a market capitalization of $17.05 billion, a P/E ratio of 38.97, a P/E/G ratio of 5.77 and a beta of 1.65. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The business has a 50-day moving average of $228.89 and a 200-day moving average of $238.58.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.62 EPS. Equities analysts expect that Align Technology, Inc. will post 7.45 EPS for the current year.

Analyst Ratings Changes

ALGN has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Evercore ISI reduced their price target on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Morgan Stanley lowered their price objective on Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Piper Sandler decreased their target price on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Stifel Nicolaus dropped their price target 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Align Technology has an average rating of “Hold” and an average target price of $276.38.

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.