US Bancorp DE Has $17.37 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

US Bancorp DE trimmed its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,296 shares of the medical equipment provider’s stock after selling 4,126 shares during the period. US Bancorp DE owned approximately 0.11% of Align Technology worth $17,368,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ALGN. Wealth Enhancement Advisory Services LLC lifted its holdings in Align Technology by 27.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,708 shares of the medical equipment provider’s stock valued at $1,960,000 after buying an additional 1,683 shares during the period. abrdn plc lifted its holdings in Align Technology by 2.9% in the third quarter. abrdn plc now owns 28,688 shares of the medical equipment provider’s stock valued at $7,272,000 after buying an additional 806 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Align Technology in the third quarter valued at approximately $356,000. Impax Asset Management Group plc lifted its holdings in Align Technology by 26.8% in the third quarter. Impax Asset Management Group plc now owns 114,057 shares of the medical equipment provider’s stock valued at $29,007,000 after buying an additional 24,115 shares during the period. Finally, Crestwood Advisors Group LLC lifted its holdings in Align Technology by 6.6% in the third quarter. Crestwood Advisors Group LLC now owns 1,000 shares of the medical equipment provider’s stock valued at $254,000 after buying an additional 62 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ALGN shares. Piper Sandler cut their price objective on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Morgan Stanley lowered their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Evercore ISI upped their target price on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Mizuho started coverage on shares of Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 target price for the company. Finally, Bank of America upped their target price on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $269.91.

Align Technology Stock Up 0.7 %

Shares of ALGN stock opened at $187.03 on Monday. The firm has a fifty day moving average of $211.95 and a 200-day moving average of $223.44. Align Technology, Inc. has a 12-month low of $183.24 and a 12-month high of $335.40. The company has a market capitalization of $13.96 billion, a price-to-earnings ratio of 33.34, a P/E/G ratio of 2.24 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology 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.