EverSource Wealth Advisors LLC Buys 335 Shares of Align Technology, Inc. (NASDAQ:ALGN)

EverSource Wealth Advisors LLC lifted its position in Align Technology, Inc. (NASDAQ:ALGN) by 148.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 560 shares of the medical equipment provider’s stock after purchasing an additional 335 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Align Technology were worth $117,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ALGN. Swedbank AB grew its holdings in Align Technology by 30.1% during the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock valued at $98,960,000 after buying an additional 90,000 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Align Technology by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock valued at $56,870,000 after purchasing an additional 9,139 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Align Technology by 119.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider’s stock valued at $35,368,000 after purchasing an additional 92,407 shares in the last quarter. Fisher Asset Management LLC increased its position in Align Technology by 2.6% in the third quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock worth $26,900,000 after purchasing an additional 2,717 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in Align Technology by 25.7% during the third quarter. National Bank of Canada FI now owns 40,826 shares of the medical equipment provider’s stock valued at $10,383,000 after purchasing an additional 8,338 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Evercore ISI raised their price objective on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company assumed coverage on Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 target price on the stock. Finally, Morgan Stanley dropped their price objective on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $269.91.

Align Technology Trading Up 2.0 %

Shares of NASDAQ:ALGN opened at $169.59 on Tuesday. The company has a market capitalization of $12.48 billion, a PE ratio of 30.23, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 12-month low of $158.13 and a 12-month high of $335.40. The business’s fifty day simple moving average is $202.63 and its 200-day simple moving average is $218.32.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. Research analysts predict 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.