Wells Fargo & Company MN Has $36.68 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Wells Fargo & Company MN grew its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 9.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 175,894 shares of the medical equipment provider’s stock after acquiring an additional 15,010 shares during the period. Wells Fargo & Company MN owned 0.24% of Align Technology worth $36,676,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ALGN. Picton Mahoney Asset Management lifted its holdings in Align Technology by 69.9% in the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 58 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of Align Technology in the third quarter valued at approximately $32,000. Private Trust Co. NA lifted its stake in shares of Align Technology by 113.4% in the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 93 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after buying an additional 157 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Align Technology during the 4th quarter worth $52,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Morgan Stanley dropped their price objective on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 price target (down from $270.00) on shares of Align Technology in a research report on Tuesday, March 18th. Finally, Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $235.00 to $280.00 in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $262.64.

Align Technology Price Performance

Shares of ALGN stock opened at $160.14 on Friday. Align Technology, Inc. has a one year low of $141.74 and a one year high of $331.64. The stock has a fifty day moving average price of $178.28 and a 200 day moving average price of $207.89. The stock has a market cap of $11.72 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. Equities research analysts anticipate that Align Technology, Inc. will post 7.98 EPS 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.