Align Technology, Inc. $ALGN Stake Boosted by Merit Financial Group LLC

Merit Financial Group LLC grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 197.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,167 shares of the medical equipment provider’s stock after acquiring an additional 5,420 shares during the period. Merit Financial Group LLC’s holdings in Align Technology were worth $1,275,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ALGN. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Align Technology by 38.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,551 shares of the medical equipment provider’s stock valued at $2,029,000 after purchasing an additional 4,359 shares during the last quarter. AE Wealth Management LLC acquired a new stake in shares of Align Technology in the 3rd quarter valued at $650,000. Dana Investment Advisors Inc. acquired a new stake in shares of Align Technology in the 3rd quarter valued at $9,991,000. AIA Group Ltd acquired a new stake in shares of Align Technology in the 3rd quarter valued at $2,507,000. Finally, Hussman Strategic Advisors Inc. acquired a new stake in shares of Align Technology in the 3rd quarter valued at $3,156,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Align Technology in a research note on Wednesday, April 15th. They issued a “buy” rating and a $240.00 price objective for the company. Jefferies Financial Group lifted their price objective on shares of Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. UBS Group lifted their price objective on shares of Align Technology from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Mizuho lifted their price objective on shares of Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Finally, Wall Street Zen raised shares of Align Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 7th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.46.

Align Technology Price Performance

Align Technology stock opened at $190.67 on Friday. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of 33.69, a P/E/G ratio of 2.13 and a beta of 1.81. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $208.30. The firm has a fifty day moving average price of $179.72 and a two-hundred day moving average price of $162.24.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 EPS. As a group, sell-side analysts expect that Align Technology, Inc. will post 9.15 earnings per share for the current year.

Insiders Place Their Bets

In other Align Technology news, EVP John Morici sold 7,969 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the completion of the transaction, the executive vice president owned 8,237 shares of the company’s stock, valued at $1,559,346.47. The trade was a 49.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Align Technology Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.