EFG Asset Management Americas Corp. Purchases 41 Shares of Align Technology, Inc. (NASDAQ:ALGN)

EFG Asset Management Americas Corp. increased its position in Align Technology, Inc. (NASDAQ:ALGNFree Report) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,167 shares of the medical equipment provider’s stock after acquiring an additional 41 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Align Technology were worth $320,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ALGN. Raymond James Trust N.A. boosted its position in shares of Align Technology by 39.4% in the first quarter. Raymond James Trust N.A. now owns 934 shares of the medical equipment provider’s stock valued at $407,000 after acquiring an additional 264 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Align Technology by 11.1% in the first quarter. Dimensional Fund Advisors LP now owns 180,978 shares of the medical equipment provider’s stock valued at $78,911,000 after acquiring an additional 18,153 shares during the period. Prudential PLC bought a new position in shares of Align Technology in the first quarter valued at approximately $955,000. Cetera Investment Advisers raised its stake in Align Technology by 4.9% in the first quarter. Cetera Investment Advisers now owns 1,713 shares of the medical equipment provider’s stock valued at $747,000 after purchasing an additional 80 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in Align Technology by 17.1% in the first quarter. Sequoia Financial Advisors LLC now owns 526 shares of the medical equipment provider’s stock valued at $229,000 after purchasing an additional 77 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Performance

ALGN stock opened at $298.98 on Monday. The company has a market capitalization of $22.50 billion, a PE ratio of 51.37, a price-to-earnings-growth ratio of 5.35 and a beta of 1.65. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20. The company’s 50 day moving average price is $312.79 and its two-hundred day moving average price is $269.88.

Align Technology (NASDAQ:ALGNGet Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The firm had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. On average, research analysts predict that Align Technology, Inc. will post 7.69 EPS for the current year.

Insider Buying and Selling

In related news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the transaction, the director now directly owns 146,994 shares in the company, valued at $46,010,591.94. The disclosure for this sale can be found here. Insiders have sold a total of 27,524 shares of company stock valued at $8,403,924 over the last three months. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ALGN shares. The Goldman Sachs Group raised their target price on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research note on Friday, February 2nd. UBS Group raised their target price on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. Piper Sandler raised their target price on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Finally, Stifel Nicolaus raised their target price on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $344.45.

Get Our Latest Analysis on ALGN

Align Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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