Maridea Wealth Management LLC Acquires New Holdings in Align Technology, Inc. $ALGN

Maridea Wealth Management LLC bought a new position in Align Technology, Inc. (NASDAQ:ALGN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,748 shares of the medical equipment provider’s stock, valued at approximately $371,000.

A number of other large investors have also recently added to or reduced their stakes in ALGN. NEOS Investment Management LLC raised its position in shares of Align Technology by 49.0% in the third quarter. NEOS Investment Management LLC now owns 10,889 shares of the medical equipment provider’s stock valued at $1,364,000 after purchasing an additional 3,581 shares during the period. Rothschild Investment LLC grew its stake in Align Technology by 106.7% in the 3rd quarter. Rothschild Investment LLC now owns 308 shares of the medical equipment provider’s stock valued at $39,000 after buying an additional 159 shares during the last quarter. M&G PLC acquired a new position in Align Technology in the 3rd quarter valued at $10,904,000. Zions Bancorporation National Association UT raised its holdings in Align Technology by 3,620.6% in the 3rd quarter. Zions Bancorporation National Association UT now owns 4,874 shares of the medical equipment provider’s stock worth $610,000 after acquiring an additional 4,743 shares during the period. Finally, Vanguard Group Inc. lifted its position in Align Technology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 8,301,611 shares of the medical equipment provider’s stock worth $1,039,528,000 after acquiring an additional 58,546 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

ALGN has been the topic of several research analyst reports. Leerink Partners raised their price target on Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Stifel Nicolaus increased their target price on Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Piper Sandler lifted their price target on Align Technology from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Mizuho upped their price target on Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Finally, Robert W. Baird set a $218.00 price objective on Align Technology in a research report on Thursday, February 5th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Align Technology presently has a consensus rating of “Hold” and a consensus price target of $195.58.

Align Technology Price Performance

Shares of ALGN stock opened at $189.40 on Friday. Align Technology, Inc. has a one year low of $122.00 and a one year high of $208.30. The stock has a fifty day moving average price of $169.25 and a 200 day moving average price of $148.93. The stock has a market cap of $13.59 billion, a P/E ratio of 33.46, a price-to-earnings-growth ratio of 2.09 and a beta of 1.84.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations 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 prior year, the company posted $2.44 EPS. Equities research analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology Company 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.