Parkside Financial Bank & Trust Has $1.71 Million Stake in Align Technology, Inc. $ALGN

Parkside Financial Bank & Trust grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1,125.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 10,156 shares of the medical equipment provider’s stock after purchasing an additional 9,327 shares during the period. Parkside Financial Bank & Trust’s holdings in Align Technology were worth $1,713,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Sequoia Financial Advisors LLC grew its holdings in Align Technology by 320.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 7,986 shares of the medical equipment provider’s stock worth $1,247,000 after buying an additional 6,085 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Align Technology by 35,513.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 545,604 shares of the medical equipment provider’s stock valued at $85,196,000 after acquiring an additional 544,072 shares in the last quarter. K.J. Harrison & Partners Inc bought a new position in Align Technology during the 2nd quarter valued at $1,872,000. Maridea Wealth Management LLC purchased a new position in Align Technology during the 2nd quarter worth $1,659,000. Finally, Pallas Capital Advisors LLC purchased a new position in Align Technology during the 2nd quarter worth $1,128,000. Institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALGN. Zacks Research downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 16th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday, July 30th. Weiss Ratings raised shares of Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. BMO Capital Markets initiated coverage on shares of Align Technology in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 price objective for the company. Finally, UBS Group reissued a “neutral” rating and set a $189.00 target price on shares of Align Technology in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.36.

Align Technology Price Performance

Shares of ALGN opened at $158.63 on Tuesday. The firm has a market cap of $11.36 billion, a PE ratio of 27.59, a PEG ratio of 1.69 and a beta of 1.65. The stock’s fifty day moving average price is $171.22 and its two-hundred day moving average price is $173.71. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $200.43.

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

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.