Parkside Financial Bank & Trust Acquires 9,327 Shares of Align Technology, Inc. $ALGN

Parkside Financial Bank & Trust lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1,125.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,156 shares of the medical equipment provider’s stock after purchasing an additional 9,327 shares during the period. Parkside Financial Bank & Trust’s holdings in Align Technology were worth $1,713,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Sequoia Financial Advisors LLC grew its position in shares of Align Technology by 320.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 7,986 shares of the medical equipment provider’s stock valued at $1,247,000 after buying an additional 6,085 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Align Technology by 35,513.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 545,604 shares of the medical equipment provider’s stock valued at $85,196,000 after purchasing an additional 544,072 shares during the period. K.J. Harrison & Partners Inc bought a new position in Align Technology during the 2nd quarter worth approximately $1,872,000. Maridea Wealth Management LLC acquired a new position in shares of Align Technology in the 2nd quarter worth approximately $1,659,000. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Align Technology in the 2nd quarter valued at $1,128,000. Institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ALGN shares. Wall Street Zen downgraded shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Zacks Research cut shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Thursday, July 30th. BMO Capital Markets started coverage on Align Technology in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 price objective for the company. Finally, UBS Group reissued a “neutral” rating and issued a $189.00 price objective on shares of Align Technology in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and an average target price of $206.36.

Align Technology Price Performance

NASDAQ ALGN opened at $158.63 on Tuesday. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $200.43. The business has a 50 day moving average price of $171.22 and a 200-day moving average price of $173.71. The company has a market cap of $11.36 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 1.69 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.02. Align Technology had a return on equity of 15.86% and a net margin of 9.99%.The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the business earned $2.49 EPS. Align Technology’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that Align Technology, Inc. will post 9.38 earnings per share for the current year.

Align Technology Profile

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.