Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by First Bank & Trust

First Bank & Trust cut its stake in Align Technology, Inc. (NASDAQ:ALGN) by 21.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,673 shares of the medical equipment provider’s stock after selling 1,004 shares during the period. First Bank & Trust’s holdings in Align Technology were worth $766,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ieq Capital LLC boosted its holdings in Align Technology by 9.0% in the fourth quarter. Ieq Capital LLC now owns 39,036 shares of the medical equipment provider’s stock valued at $8,139,000 after purchasing an additional 3,216 shares during the period. Venturi Wealth Management LLC boosted its holdings in Align Technology by 53.0% in the fourth quarter. Venturi Wealth Management LLC now owns 465 shares of the medical equipment provider’s stock valued at $97,000 after purchasing an additional 161 shares during the period. D.A. Davidson & CO. boosted its holdings in Align Technology by 2.6% in the fourth quarter. D.A. Davidson & CO. now owns 7,530 shares of the medical equipment provider’s stock valued at $1,570,000 after purchasing an additional 194 shares during the period. CIBC Asset Management Inc boosted its holdings in Align Technology by 4.6% in the fourth quarter. CIBC Asset Management Inc now owns 10,890 shares of the medical equipment provider’s stock valued at $2,271,000 after purchasing an additional 479 shares during the period. Finally, Meridiem Investment Management Ltd. boosted its holdings in Align Technology by 63.7% in the fourth quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock valued at $159,470,000 after purchasing an additional 297,472 shares during the period. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALGN shares. Wells Fargo & Company started coverage on Align Technology in a report on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price for the company. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Evercore ISI lifted their price target on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Mizuho started coverage on Align Technology in a report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Align Technology presently has an average rating of “Moderate Buy” and a consensus target price of $269.91.

Align Technology Stock Performance

ALGN opened at $201.79 on Thursday. The business’s 50-day simple moving average is $216.70 and its 200-day simple moving average is $224.47. Align Technology, Inc. has a one year low of $196.09 and a one year high of $335.40. The stock has a market capitalization of $15.06 billion, a P/E ratio of 35.97, a price-to-earnings-growth ratio of 2.43 and a beta of 1.67.

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