United Capital Financial Advisors LLC Invests $2.47 Million in Align Technology, Inc. $ALGN

United Capital Financial Advisors LLC purchased a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the second quarter, HoldingsChannel reports. The fund purchased 14,642 shares of the medical equipment provider’s stock, valued at approximately $2,470,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of Align Technology by 77.5% in the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 69 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in Align Technology by 222.4% in the 4th quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 109 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in Align Technology during the 2nd quarter worth approximately $36,000. Tobam acquired a new position in shares of Align Technology during the fourth quarter worth $30,000. Finally, Hollencrest Capital Management acquired a new position in Align Technology during the 1st quarter worth about $34,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Price Performance

NASDAQ ALGN opened at $157.58 on Friday. The business’s fifty day moving average is $173.01 and its 200-day moving average is $175.15. The stock has a market capitalization of $11.29 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 1.69 and a beta of 1.65. Align Technology, Inc. has a one year low of $122.00 and a one year high of $200.43.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.49 earnings per share. Research analysts expect that Align Technology, Inc. will post 9.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ALGN. BMO Capital Markets initiated coverage on shares of Align Technology in a report on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 target price on the stock. Weiss Ratings lowered Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Thursday, July 30th. Wall Street Zen lowered Align Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Zacks Research downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $206.36.

About Align Technology

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.