Pension & Wealth Management Advisors Inc. Makes New $859,000 Investment in Align Technology, Inc. $ALGN

Pension & Wealth Management Advisors Inc. acquired a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,481 shares of the medical equipment provider’s stock, valued at approximately $859,000.

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

Align Technology Price Performance

ALGN stock traded down $2.03 during mid-day trading on Friday, reaching $147.31. The company had a trading volume of 952,959 shares, compared to its average volume of 990,319. The company has a market capitalization of $10.55 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.59 and a beta of 1.67. The firm has a 50 day moving average of $154.01 and a 200 day moving average of $167.18. Align Technology, Inc. has a 12 month low of $128.67 and a 12 month high of $200.43.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.02. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company posted $2.49 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts anticipate that Align Technology, Inc. will post 9.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALGN. Zacks Research lowered Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 9th. Evercore lowered Align Technology from an “outperform” rating to an “in-line” rating and set a $155.00 price target for the company. in a research note on Monday, October 5th. UBS Group reaffirmed a “neutral” rating and issued a $189.00 price objective on shares of Align Technology in a research report on Thursday, July 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Align Technology currently has an average rating of “Moderate Buy” and an average price target of $194.14.

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.