Align Technology, Inc. (NASDAQ:ALGN) Holdings Raised by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 13.6% during the fourth quarter, HoldingsChannel reports. The firm owned 1,673 shares of the medical equipment provider’s stock after acquiring an additional 200 shares during the period. Sequoia Financial Advisors LLC’s holdings in Align Technology were worth $349,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC grew its position in Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Align Technology during the third quarter valued at $32,000. Private Trust Co. NA raised its position in Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 93 shares during the period. Quarry LP lifted its stake in Align Technology by 74.8% in the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 95 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Align Technology by 212.2% during the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 157 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Evercore ISI lifted their price target on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Piper Sandler restated an “overweight” rating and issued a $235.00 price objective (down from $270.00) on shares of Align Technology in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Align Technology presently has an average rating of “Moderate Buy” and a consensus price target of $266.73.

Align Technology Price Performance

NASDAQ:ALGN opened at $164.53 on Wednesday. The stock has a market cap of $12.11 billion, a P/E ratio of 29.33, a PEG ratio of 2.24 and a beta of 1.69. The company has a fifty day moving average price of $201.57 and a 200 day moving average price of $217.81. Align Technology, Inc. has a one year low of $158.13 and a one year high of $335.40.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS 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%. As a group, equities research analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

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.