Pension & Wealth Management Advisors Inc. Buys 6,481 Shares of Align Technology, Inc. $ALGN

Pension & Wealth Management Advisors Inc. bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,481 shares of the medical equipment provider’s stock, valued at approximately $859,000.

Several other institutional investors also recently bought and sold shares of the stock. NFSG Corp increased its holdings in Align Technology by 258.4% in the 3rd quarter. NFSG Corp now owns 896 shares of the medical equipment provider’s stock valued at $122,000 after acquiring an additional 646 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Align Technology by 638.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,662,437 shares of the medical equipment provider’s stock valued at $629,469,000 after purchasing an additional 4,031,284 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Align Technology by 821.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 167,271 shares of the medical equipment provider’s stock valued at $22,362,000 after purchasing an additional 149,113 shares during the last quarter. Mather Group LLC. grew its position in shares of Align Technology by 3,686.2% during the third quarter. Mather Group LLC. now owns 25,216 shares of the medical equipment provider’s stock valued at $3,342,000 after purchasing an additional 24,550 shares in the last quarter. Finally, Fortitude Family Office LLC grew its position in shares of Align Technology by 2,697.4% during the third quarter. Fortitude Family Office LLC now owns 1,063 shares of the medical equipment provider’s stock valued at $141,000 after purchasing an additional 1,025 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Robert W. Baird reiterated a “neutral” rating and issued a $162.00 target price (down from $218.00) on shares of Align Technology in a research report on Thursday. Raymond James Financial reissued a “buy” rating on shares of Align Technology in a research note on Monday, October 5th. UBS Group restated a “neutral” rating and set a $189.00 price target on shares of Align Technology in a report on Thursday, July 23rd. Stifel Nicolaus decreased their price objective on Align Technology from $210.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Finally, Zacks Research downgraded Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $194.14.

Align Technology Price Performance

Shares of Align Technology stock traded down $2.03 during trading hours on Friday, reaching $147.31. The company’s stock had a trading volume of 952,959 shares, compared to its average volume of 990,319. The firm has a 50 day moving average price of $154.01 and a 200-day moving average price of $167.18. Align Technology, Inc. has a one year low of $128.67 and a one year high of $200.43. The stock has a market cap of $10.55 billion, a P/E ratio of 25.62, a P/E/G ratio of 1.59 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.02. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the company earned $2.49 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Align Technology, Inc. will post 9.36 EPS for the current fiscal year.

About Align Technology

Align Technology, Inc is a medical device and digital technology company that designs, manufactures and markets products used in orthodontics and restorative dentistry. The company is best known for Invisalign clear aligners, which are custom-made orthodontic devices intended to gradually move patients’ teeth under the supervision of dental professionals.

Align also develops the iTero family of intraoral scanners and related digital imaging systems, which help dental professionals create digital impressions and treatment plans.