Bank of New York Mellon Corp Has $195.47 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Bank of New York Mellon Corp lifted its holdings in Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 4.9% in the 3rd quarter, Holdings Channel reports. The firm owned 943,794 shares of the medical equipment provider’s stock after buying an additional 43,895 shares during the quarter. Bank of New York Mellon Corp’s holdings in Align Technology were worth $195,470,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ALGN. Vanguard Group Inc. lifted its stake in shares of Align Technology by 12.1% in the 3rd quarter. Vanguard Group Inc. now owns 8,213,345 shares of the medical equipment provider’s stock valued at $1,701,067,000 after purchasing an additional 889,705 shares during the last quarter. Brown Advisory Inc. raised its holdings in Align Technology by 72.0% in the 2nd quarter. Brown Advisory Inc. now owns 918,812 shares of the medical equipment provider’s stock worth $217,455,000 after acquiring an additional 384,494 shares during the period. Bares Capital Management Inc. raised its holdings in Align Technology by 68.0% in the 2nd quarter. Bares Capital Management Inc. now owns 690,233 shares of the medical equipment provider’s stock worth $163,357,000 after acquiring an additional 279,461 shares during the period. Riverbridge Partners LLC raised its holdings in Align Technology by 5,579.6% in the 3rd quarter. Riverbridge Partners LLC now owns 268,984 shares of the medical equipment provider’s stock worth $55,709,000 after acquiring an additional 264,248 shares during the period. Finally, Echo Street Capital Management LLC raised its holdings in Align Technology by 97.2% in the 2nd quarter. Echo Street Capital Management LLC now owns 492,964 shares of the medical equipment provider’s stock worth $116,670,000 after acquiring an additional 242,988 shares during the period. Institutional investors and hedge funds own 84.90% of the company’s stock.

Analyst Upgrades and Downgrades

ALGN has been the topic of several recent analyst reports. The Goldman Sachs Group upgraded shares of Align Technology from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $165.00 to $307.00 in a report on Thursday, February 2nd. Robert W. Baird lifted their target price on shares of Align Technology from $260.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Piper Sandler lifted their target price on shares of Align Technology from $255.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. StockNews.com initiated coverage on shares of Align Technology in a report on Thursday. They set a “hold” rating on the stock. Finally, Evercore ISI boosted their price objective on shares of Align Technology from $230.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $358.78.

Insider Activity

In other Align Technology news, CFO John Morici bought 587 shares of the firm’s stock in a transaction dated Wednesday, February 8th. The shares were acquired at an average cost of $341.84 per share, for a total transaction of $200,660.08. Following the transaction, the chief financial officer now owns 8,204 shares in the company, valued at $2,804,455.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Joseph M. Hogan purchased 2,928 shares of Align Technology stock in a transaction on Wednesday, February 8th. The shares were purchased at an average cost of $341.50 per share, for a total transaction of $999,912.00. Following the completion of the transaction, the chief executive officer now directly owns 188,417 shares in the company, valued at $64,344,405.50. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John Morici purchased 587 shares of Align Technology stock in a transaction on Wednesday, February 8th. The stock was purchased at an average price of $341.84 per share, for a total transaction of $200,660.08. Following the completion of the transaction, the chief financial officer now owns 8,204 shares of the company’s stock, valued at $2,804,455.36. The disclosure for this purchase can be found here. 0.64% of the stock is owned by company insiders.

Align Technology Stock Performance

Shares of Align Technology stock opened at $320.87 on Friday. The firm’s 50-day simple moving average is $296.65 and its 200-day simple moving average is $240.53. Align Technology, Inc. has a twelve month low of $172.05 and a twelve month high of $461.79. The firm has a market cap of $24.58 billion, a P/E ratio of 69.60, a price-to-earnings-growth ratio of 3.08 and a beta of 1.60.

Align Technology Profile

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Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of Invisalign full, teen, and assist products, and Vivera retainers for treating malocclusion.