Huntington National Bank Has $68,000 Stake in Align Technology, Inc. (NASDAQ:ALGN)

Huntington National Bank increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 103.8% in the 4th quarter, Holdings Channel reports. The firm owned 326 shares of the medical equipment provider’s stock after purchasing an additional 166 shares during the period. Huntington National Bank’s holdings in Align Technology were worth $68,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management lifted its stake in shares of Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 58 shares during the last quarter. Neo Ivy Capital Management bought a new position in Align Technology in the 3rd quarter worth $32,000. Private Trust Co. NA lifted its position in Align Technology by 113.4% during the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 93 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after acquiring an additional 157 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Align Technology in the fourth quarter valued at about $52,000. Institutional investors own 88.43% of the company’s stock.

Align Technology Trading Down 0.5 %

NASDAQ ALGN opened at $153.51 on Monday. The firm has a market cap of $11.24 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 2.24 and a beta of 1.73. Align Technology, Inc. has a 1-year low of $138.00 and a 1-year high of $331.64. The company has a 50 day moving average of $186.45 and a 200-day moving average of $211.38.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALGN. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Wells Fargo & Company initiated coverage on shares of Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 target price on the stock. Mizuho reduced their price target on shares of Align Technology from $295.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, March 25th. Jefferies Financial Group dropped their price objective on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Finally, Morgan Stanley decreased their target price on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $262.64.

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.