HighPoint Advisor Group Buys Shares in Align Technology
HighPoint Advisor Group LLC recently purchased 1,271 shares of Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, costing around $348,000. This move shows interest in Align Technology's future potential.
Other Institutional Investors Join In
Other big investors are also noticing Align Technology:
- Orion Capital Management LLC started a new position in the third quarter, investing $61,000.
- Operose Advisors LLC also bought shares worth $63,000 in the third quarter.
- Covestor Ltd increased its holdings by a significant 379.5%, now owning 211 shares valued at $64,000.
- Valley National Advisers Inc. upped its stake by 29.7%, now holding 214 shares worth $65,000.
- Venturi Wealth Management LLC nearly doubled its shares by 97.2% in the fourth quarter, holding 280 shares valued at $77,000.
Overall, institutional investors own a strong 88.43% of the company’s stock.
Analysts’ Ratings on ALGN Shares
Analysts have different opinions on Align Technology:
- Leerink Partners calls it "market perform."
- Stifel Nicolaus raised their price target from $350.00 to $400.00 and recommends a "buy."
- SVB Leerink also rates it "market perform" with a $310.00 price target.
- Robert W. Baird increased the target price to $370.00 and gives it an "outperform" rating.
- OTR Global offers a “mixed” rating.
Currently, one analyst rates it as a sell, three as hold, and seven as buy, giving an overall rating of “Moderate Buy” with an average price target of $351.00.
Current Stock Performance
Align Technology shares opened at $242.61. The company’s 50-day moving average is $274.34 and its 200-day moving average is $282.31. The stock's 52-week range is $176.34 to $413.20. The tech firm boasts a market cap of $18.26 billion, with a PE ratio of 39.97 and a P/E/G ratio of 4.48, and a beta of 1.62.
Latest Earnings Report
Align Technology’s latest earnings report (released April 24th):
- Earnings per share (EPS): $1.62, beating the expected $1.54.
- Revenue: $997.43 million, surpassing analysts' forecasts of $971.97 million.
- Return on equity: 14.15%.
- Net margin: 11.80%.
Analysts predict the company will achieve $7.86 EPS for this fiscal year.
Company Overview
Align Technology, Inc. designs and sells Invisalign clear aligners and iTero intraoral scanners. Aimed primarily at orthodontists and general dentists in the U.S., Switzerland, and around the world, they offer packages for both young children and adult patients.
Align Technology’s clear aligners include:
- Invisalign comprehensive package: Addresses the needs of younger patients.
- Invisalign First Phase I and Invisalign First Comprehensive Phase 2: Designed for children aged 6 to 10 with mixed baby and permanent teeth.
By making investments and receiving favorable ratings from analysts, Align Technology appears positioned for potential growth.
