Azzad Asset Management Inc. ADV Has $4.47 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

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

A number of other institutional investors have also recently bought and sold shares of the business. Moody National Bank Trust Division boosted its position in Align Technology by 1.8% during the 1st quarter. Moody National Bank Trust Division now owns 2,107 shares of the medical equipment provider’s stock worth $691,000 after acquiring an additional 38 shares during the period. EFG Asset Management Americas Corp. boosted its position in Align Technology by 3.6% during the 4th quarter. EFG Asset Management Americas Corp. now owns 1,167 shares of the medical equipment provider’s stock worth $320,000 after acquiring an additional 41 shares during the period. Dfpg Investments LLC boosted its position in Align Technology by 3.3% during the 4th quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock worth $340,000 after acquiring an additional 42 shares during the period. Richard W. Paul & Associates LLC boosted its position in Align Technology by 2.8% during the 4th quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider’s stock worth $457,000 after acquiring an additional 45 shares during the period. Finally, Jag Capital Management LLC boosted its position in Align Technology by 4.1% during the 3rd quarter. Jag Capital Management LLC now owns 1,258 shares of the medical equipment provider’s stock worth $384,000 after acquiring an additional 50 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALGN. Robert W. Baird raised their price target on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Morgan Stanley raised their price target on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. Evercore ISI cut their price target on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 10th. Finally, Piper Sandler cut their price target on Align Technology from $375.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $346.50.

Align Technology Price Performance

Shares of ALGN stock traded down $1.25 on Wednesday, reaching $238.49. 110,301 shares of the stock were exchanged, compared to its average volume of 763,956. The stock has a market cap of $17.95 billion, a PE ratio of 39.50, a P/E/G ratio of 4.47 and a beta of 1.66. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20. The stock has a 50 day moving average price of $265.44 and a 200 day moving average price of $283.94.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.08. The company 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, research analysts expect that Align Technology, Inc. will post 7.86 earnings per share for the current fiscal 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.