Outlook Wealth Advisors LLC Makes New $399,000 Investment in Align Technology, Inc. $ALGN

Outlook Wealth Advisors LLC acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,186 shares of the medical equipment provider’s stock, valued at approximately $399,000.

Several other large investors have also made changes to their positions in ALGN. Norges Bank acquired a new stake in Align Technology in the 2nd quarter valued at $155,297,000. Ninety One UK Ltd raised its position in Align Technology by 18.3% during the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock worth $283,898,000 after acquiring an additional 350,883 shares during the period. Nordea Investment Management AB lifted its holdings in Align Technology by 94.5% during the second quarter. Nordea Investment Management AB now owns 638,341 shares of the medical equipment provider’s stock valued at $121,055,000 after purchasing an additional 310,091 shares in the last quarter. Bank of America Corp DE grew its position in shares of Align Technology by 60.7% in the second quarter. Bank of America Corp DE now owns 786,637 shares of the medical equipment provider’s stock valued at $148,934,000 after purchasing an additional 297,117 shares during the period. Finally, Artisan Partners Limited Partnership acquired a new stake in shares of Align Technology in the second quarter valued at about $55,061,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALGN has been the topic of a number of research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price target (up from $190.00) on shares of Align Technology in a research note on Thursday, October 30th. UBS Group dropped their price target on Align Technology from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Weiss Ratings upgraded Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 16th. Jefferies Financial Group upped their target price on shares of Align Technology from $140.00 to $155.00 in a report on Thursday, October 30th. Finally, Leerink Partners increased their target price on shares of Align Technology from $189.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Align Technology currently has a consensus rating of “Hold” and a consensus target price of $176.82.

Align Technology Stock Down 0.6%

Shares of NASDAQ:ALGN opened at $168.92 on Friday. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $235.55. The business has a fifty day moving average of $157.33 and a two-hundred day moving average of $150.92. The stock has a market cap of $12.12 billion, a P/E ratio of 32.74, a PEG ratio of 1.91 and a beta of 1.83.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The firm had revenue of $995.69 million for the quarter, compared to analysts’ expectations of $980.75 million. During the same quarter in the previous year, the company posted $2.35 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share 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.