Wilmington Savings Fund Society FSB Makes New Investment in Align Technology, Inc. (NASDAQ:ALGN)

Wilmington Savings Fund Society FSB purchased a new position in Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 306 shares of the medical equipment provider’s stock, valued at approximately $78,000.

Several other large investors also recently made changes to their positions in ALGN. Cullen Frost Bankers Inc. lifted its holdings in shares of Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 94 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Align Technology in the 2nd quarter worth $26,000. True Wealth Design LLC grew its position in Align Technology by 10,700.0% in 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 during the last quarter. Innealta Capital LLC bought a new position in shares of Align Technology during the 2nd quarter worth about $26,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Align Technology during the third quarter valued at about $32,000. Institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALGN. Evercore ISI reduced their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Bank of America upped their price objective on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Robert W. Baird lowered their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Piper Sandler cut their price objective on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $271.20.

Align Technology Trading Down 1.2 %

Shares of ALGN opened at $211.06 on Friday. The stock has a market cap of $15.76 billion, a P/E ratio of 36.02, a price-to-earnings-growth ratio of 6.20 and a beta of 1.66. Align Technology, Inc. has a 1 year low of $196.09 and a 1 year high of $335.40. The stock’s 50-day moving average price is $222.95 and its two-hundred day moving average price is $233.20.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The business had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. Align Technology’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the company posted $1.62 EPS. As a group, equities analysts forecast that Align Technology, Inc. will post 7.45 EPS for the current year.

Align Technology Company 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.