Allworth Financial LP Raises Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Allworth Financial LP lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 1,479.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,416 shares of the medical equipment provider's stock after buying an additional 2,263 shares during the period. Allworth Financial LP's holdings in Align Technology were worth $504,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Principal Securities Inc. boosted its holdings in shares of Align Technology by 34.5% during the 4th quarter. Principal Securities Inc. now owns 1,881 shares of the medical equipment provider's stock valued at $392,000 after acquiring an additional 483 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Align Technology by 2.6% during the fourth quarter. Vontobel Holding Ltd. now owns 11,547 shares of the medical equipment provider's stock valued at $2,408,000 after purchasing an additional 297 shares during the period. Asset Management One Co. Ltd. boosted its holdings in Align Technology by 0.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 27,615 shares of the medical equipment provider's stock worth $5,839,000 after purchasing an additional 246 shares during the last quarter. Van ECK Associates Corp purchased a new stake in Align Technology in the fourth quarter worth approximately $2,415,000. Finally, Allspring Global Investments Holdings LLC grew its position in Align Technology by 119.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider's stock worth $35,368,000 after purchasing an additional 92,407 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Align Technology Price Performance

Shares of NASDAQ:ALGN traded down $7.63 during trading on Friday, hitting $190.43. 1,695,090 shares of the company's stock were exchanged, compared to its average volume of 820,444. The business's 50-day simple moving average is $215.95 and its 200 day simple moving average is $224.29. The company has a market cap of $14.22 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.38 and a beta of 1.67. Align Technology, Inc. has a 52-week low of $186.82 and a 52-week high of $335.40.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (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%. On average, sell-side analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a research report on Thursday, February 6th. Wells Fargo & Company started coverage on shares of Align Technology in a research report on Friday, February 14th. They issued an "overweight" rating and a $255.00 price target on the stock. Bank of America boosted their price objective on shares of Align Technology from $200.00 to $206.00 and gave the company an "underperform" rating in a research report on Friday, December 13th. Leerink Partnrs raised Align Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Finally, Robert W. Baird decreased their price objective on Align Technology from $325.00 to $276.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. One 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.91.

About Align Technology

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.