Venturi Wealth Management LLC Buys 161 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Venturi Wealth Management LLC raised its stake in Align Technology, Inc. (NASDAQ:ALGN) by 53.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 465 shares of the medical equipment provider’s stock after purchasing an additional 161 shares during the quarter. Venturi Wealth Management LLC’s holdings in Align Technology were worth $97,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ALGN. Empirical Finance LLC increased its holdings in shares of Align Technology by 2.1% in the third quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock worth $632,000 after purchasing an additional 50 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in Align Technology by 5.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,042 shares of the medical equipment provider’s stock valued at $265,000 after buying an additional 55 shares in the last quarter. Crestwood Advisors Group LLC increased its stake in Align Technology by 6.6% in the 3rd quarter. Crestwood Advisors Group LLC now owns 1,000 shares of the medical equipment provider’s stock worth $254,000 after acquiring an additional 62 shares during the last quarter. Beech Hill Advisors Inc. raised its holdings in shares of Align Technology by 0.6% during the 4th quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock worth $2,425,000 after acquiring an additional 65 shares in the last quarter. Finally, Greenleaf Trust boosted its position in shares of Align Technology by 5.2% during the 3rd quarter. Greenleaf Trust now owns 1,329 shares of the medical equipment provider’s stock valued at $338,000 after acquiring an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

Shares of NASDAQ:ALGN opened at $190.43 on Monday. The firm’s 50 day simple moving average is $215.05 and its 200-day simple moving average is $224.43. Align Technology, Inc. has a one year low of $186.82 and a one year high of $335.40. The firm has a market cap of $14.22 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 2.33 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. Equities research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALGN. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Jefferies Financial Group dropped their target price on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company started coverage on Align Technology in a report on Friday, February 14th. They set an “overweight” rating and a $255.00 price target on the stock. Piper Sandler cut their price objective on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Mizuho initiated coverage on shares of Align Technology in a report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Align Technology currently has a consensus rating of “Moderate Buy” and an average price target of $269.91.

Align Technology 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.