Wealth Enhancement Advisory Services LLC Purchases 9,792 Shares of Align Technology, Inc. $ALGN

Wealth Enhancement Advisory Services LLC boosted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 63.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 25,343 shares of the medical equipment provider’s stock after purchasing an additional 9,792 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Align Technology were worth $4,282,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. AE Wealth Management LLC bought a new position in shares of Align Technology in the third quarter worth $650,000. Dana Investment Advisors Inc. purchased a new position in shares of Align Technology in the 3rd quarter worth about $9,991,000. AIA Group Ltd bought a new position in Align Technology during the third quarter valued at approximately $2,507,000. Hussman Strategic Advisors Inc. bought a new position in shares of Align Technology during the 3rd quarter valued at $3,156,000. Finally, Clarkston Capital Partners LLC grew its stake in shares of Align Technology by 25.7% during the third quarter. Clarkston Capital Partners LLC now owns 141,215 shares of the medical equipment provider’s stock valued at $17,683,000 after buying an additional 28,850 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

Shares of NASDAQ:ALGN opened at $166.26 on Tuesday. The firm’s 50 day simple moving average is $177.04 and its 200-day simple moving average is $156.20. The firm has a market cap of $11.85 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 1.81 and a beta of 1.79. Align Technology, Inc. has a one year low of $122.00 and a one year high of $208.30.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.30. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the company earned $2.44 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Insider Activity at Align Technology

In other news, EVP John Morici sold 7,969 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the completion of the sale, the executive vice president owned 8,237 shares in the company, valued at approximately $1,559,346.47. This represents a 49.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ALGN. Morgan Stanley boosted their price objective on shares of Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Barclays raised shares of Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 target price for the company in a research note on Tuesday, March 17th. Jefferies Financial Group upped their price target on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Weiss Ratings upgraded shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 16th. Finally, Stifel Nicolaus boosted their price target on Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $198.08.

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.