Valmark Advisers Inc. Increases Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Valmark Advisers Inc. raised its stake in Align Technology, Inc. (NASDAQ:ALGN) by 35.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,682 shares of the medical equipment provider’s stock after purchasing an additional 1,235 shares during the period. Valmark Advisers Inc.’s holdings in Align Technology were worth $1,283,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of Align Technology in the fourth quarter valued at approximately $486,000. Truist Financial Corp boosted its holdings in shares of Align Technology by 24.8% in the fourth quarter. Truist Financial Corp now owns 11,165 shares of the medical equipment provider’s stock valued at $3,059,000 after acquiring an additional 2,220 shares during the period. Motley Fool Asset Management LLC boosted its holdings in shares of Align Technology by 8.6% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,110 shares of the medical equipment provider’s stock valued at $578,000 after acquiring an additional 167 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Align Technology by 6.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,024 shares of the medical equipment provider’s stock valued at $555,000 after acquiring an additional 131 shares during the period. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Align Technology in the fourth quarter valued at approximately $422,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the transaction, the director now directly owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,524 shares of company stock worth $8,403,924. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALGN. SVB Leerink began coverage on Align Technology in a report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group lifted their price objective on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Robert W. Baird lifted their price objective on shares of Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, The Goldman Sachs Group lifted their price objective on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $353.00.

Align Technology Price Performance

Shares of NASDAQ ALGN traded down $1.48 during trading on Friday, hitting $309.02. 737,294 shares of the company were exchanged, compared to its average volume of 636,306. The company has a market cap of $23.25 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 5.53 and a beta of 1.65. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $413.20. The firm’s fifty day moving average price is $313.38 and its 200 day moving average price is $270.87.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.78 by $0.13. The company had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. On average, research analysts forecast that Align Technology, Inc. will post 7.69 earnings per share for the current year.

About Align Technology

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.