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

True Wealth Design LLC grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 10,700.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 108 shares of the medical equipment provider’s stock after buying an additional 107 shares during the period. True Wealth Design LLC’s holdings in Align Technology were worth $27,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Cullen Frost Bankers Inc. increased its stake in Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 94 shares during the period. Innealta Capital LLC acquired a new stake in shares of Align Technology during the 2nd quarter worth approximately $26,000. Rothschild Investment LLC bought a new stake in shares of Align Technology during the second quarter valued at approximately $26,000. Versant Capital Management Inc raised its stake in shares of Align Technology by 547.1% in 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. raised its stake in shares of Align Technology by 52.5% in the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

Shares of ALGN stock opened at $234.14 on Tuesday. Align Technology, Inc. has a 52 week low of $196.09 and a 52 week high of $335.40. The stock has a market capitalization of $17.48 billion, a PE ratio of 39.96, a PEG ratio of 6.03 and a beta of 1.65. The stock’s fifty day moving average is $226.43 and its 200-day moving average is $236.00.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 EPS. As a group, analysts forecast that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALGN has been the subject of a number of recent research reports. Robert W. Baird dropped their price objective 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Evercore ISI dropped their target price on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Piper Sandler decreased their price target 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. Finally, StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Align Technology currently has a consensus rating of “Hold” and a consensus target price of $276.38.

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.