Azzad Asset Management Inc. ADV Buys 1,149 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Azzad Asset Management Inc. ADV raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 9.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,622 shares of the medical equipment provider’s stock after purchasing an additional 1,149 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Align Technology were worth $4,467,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Mather Group LLC. bought a new position in Align Technology during the 1st quarter worth $26,000. Orion Capital Management LLC bought a new position in shares of Align Technology in the 3rd quarter worth about $61,000. Venturi Wealth Management LLC raised its position in shares of Align Technology by 97.2% in the 4th quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock worth $77,000 after acquiring an additional 138 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of Align Technology in the 4th quarter worth about $86,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Align Technology by 61.6% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 328 shares of the medical equipment provider’s stock worth $90,000 after acquiring an additional 125 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Piper Sandler lowered their price objective on Align Technology from $375.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Morgan Stanley lifted their price objective on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. UBS Group lifted their price objective on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Robert W. Baird lifted their price objective on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, Evercore ISI decreased their target price on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $346.50.

Align Technology Stock Down 0.5 %

ALGN stock traded down $1.25 during mid-day trading on Wednesday, reaching $238.49. 110,301 shares of the company traded hands, compared to its average volume of 763,956. The stock has a market cap of $17.95 billion, a price-to-earnings ratio of 39.50, a P/E/G ratio of 4.47 and a beta of 1.66. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20. The firm’s 50 day moving average price is $265.44 and its 200 day moving average price is $283.94.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. The business had revenue of $997.43 million during the quarter, compared to the consensus estimate of $971.97 million. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. On average, analysts anticipate that Align Technology, Inc. will post 7.86 EPS for the current fiscal year.

Align Technology Company Profile

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.