True Wealth Design LLC Has $27,000 Holdings in Align Technology, Inc. (NASDAQ:ALGN)

True Wealth Design LLC boosted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 10,700.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 108 shares of the medical equipment provider’s stock after purchasing an additional 107 shares during the period. True Wealth Design LLC’s holdings in Align Technology were worth $27,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. boosted its position in Align Technology by 854.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 94 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Align Technology in the second quarter worth approximately $26,000. Innealta Capital LLC acquired a new stake in shares of Align Technology during the second quarter worth approximately $26,000. Versant Capital Management Inc grew its position in Align Technology by 547.1% during the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 93 shares in the last quarter. Finally, Mather Group LLC. increased its stake in Align Technology by 52.5% in the 2nd quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 42 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Trading Up 0.6 %

NASDAQ ALGN opened at $234.14 on Tuesday. The company has a market cap of $17.48 billion, a P/E ratio of 39.96, a P/E/G ratio of 6.03 and a beta of 1.65. Align Technology, Inc. has a 1 year low of $196.09 and a 1 year high of $335.40. The company has a fifty day simple moving average of $226.43 and a 200 day simple moving average of $236.00.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Piper Sandler lowered their target price on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley cut their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Evercore ISI dropped their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Robert W. Baird reduced their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $276.38.

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.