Country Trust Bank cut its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 3.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,770 shares of the medical equipment provider’s stock after selling 2,207 shares during the period. Country Trust Bank owned about 0.09% of Align Technology worth $23,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALGN. Manchester Capital Management LLC acquired a new position in Align Technology during the first quarter valued at $26,000. KB Financial Partners LLC acquired a new position in Align Technology during the first quarter valued at $26,000. Zions Bancorporation N.A. lifted its position in Align Technology by 85.5% during the fourth quarter. Zions Bancorporation N.A. now owns 128 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Ronald Blue Trust Inc. lifted its position in Align Technology by 42.6% during the first quarter. Ronald Blue Trust Inc. now owns 134 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Finally, CVA Family Office LLC lifted its position in Align Technology by 46.7% during the first quarter. CVA Family Office LLC now owns 110 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 35 shares during the period. 87.07% of the stock is currently owned by institutional investors and hedge funds.
Align Technology Price Performance
NASDAQ ALGN traded down $6.28 during trading hours on Monday, hitting $325.81. 235,380 shares of the company’s stock traded hands, compared to its average volume of 833,120. The company has a market capitalization of $24.93 billion, a PE ratio of 80.87, a PEG ratio of 2.64 and a beta of 1.63. The firm’s 50-day moving average is $354.79 and its 200-day moving average is $331.92. Align Technology, Inc. has a 52-week low of $172.05 and a 52-week high of $413.20.
Align Technology (NASDAQ:ALGN – Get Free Report) last posted its earnings results on Wednesday, July 26th. The medical equipment provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.09. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $985.87 million. Align Technology had a net margin of 8.40% and a return on equity of 11.42%. Equities research analysts predict that Align Technology, Inc. will post 7.2 earnings per share for the current fiscal year.
Analysts Set New Price Targets
ALGN has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of Align Technology from $370.00 to $415.00 in a research report on Thursday, July 27th. HSBC initiated coverage on shares of Align Technology in a research report on Wednesday, August 30th. They issued a “buy” rating and a $450.00 price objective for the company. StockNews.com initiated coverage on shares of Align Technology in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Jefferies Financial Group upped their price objective on shares of Align Technology from $367.00 to $400.00 in a research report on Thursday, July 27th. Finally, Morgan Stanley boosted their target price on shares of Align Technology from $383.00 to $415.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $380.33.
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, China, and internationally. It operates in two segments, Clear Aligner; and Imaging Systems and CAD/CAM Services (Systems and Services).