Aigen Investment Management LP Purchases Shares of 3,047 Align Technology, Inc. (NASDAQ:ALGN)

Aigen Investment Management LP bought a new stake in shares of Align Technology, Inc. (NASDAQ:ALGNFree Report) during the fourth quarter, Holdings Channel reports. The institutional investor bought 3,047 shares of the medical equipment provider’s stock, valued at approximately $835,000.

Other large investors have also bought and sold shares of the company. Huntington National Bank grew its position in Align Technology by 94.9% in the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 56 shares in the last quarter. Orion Capital Management LLC bought a new position in Align Technology during the third quarter valued at $61,000. Operose Advisors LLC purchased a new stake in Align Technology in the third quarter worth $63,000. Covestor Ltd grew its stake in shares of Align Technology by 379.5% during the 3rd quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock worth $64,000 after acquiring an additional 167 shares during the period. Finally, Valley National Advisers Inc. increased its holdings in Align Technology by 29.7% in the 3rd quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock worth $65,000 after acquiring an additional 49 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALGN has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and set a $375.00 target price (up previously from $355.00) on shares of Align Technology in a research report on Thursday, April 25th. SVB Leerink started coverage on Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 price objective on the stock. Robert W. Baird raised their price objective on shares of Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Stifel Nicolaus raised their price target on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, UBS Group lifted their price objective on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $353.00.

Get Our Latest Analysis on ALGN

Align Technology Stock Down 0.2 %

Shares of ALGN traded down $0.51 during trading hours on Wednesday, hitting $263.51. The company had a trading volume of 133,921 shares, compared to its average volume of 727,896. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $413.20. The stock’s 50 day moving average price is $303.60 and its 200 day moving average price is $276.08. The firm has a market cap of $19.84 billion, a P/E ratio of 43.50, a P/E/G ratio of 4.91 and a beta of 1.66.

Align Technology (NASDAQ:ALGNGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.08. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. The business had revenue of $997.43 million during the quarter, compared to analysts’ expectations of $971.97 million. On average, research analysts expect that Align Technology, Inc. will post 7.92 EPS for the current fiscal year.

Insider Activity at Align Technology

In related news, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the sale, the director now owns 146,994 shares in the company, valued at $46,010,591.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.62% of the stock is owned by company insiders.

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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