WASHINGTON TRUST Co Boosts Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

WASHINGTON TRUST Co boosted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 41.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 363 shares of the medical equipment provider’s stock after acquiring an additional 106 shares during the period. WASHINGTON TRUST Co’s holdings in Align Technology were worth $99,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ALGN. KB Financial Partners LLC bought a new position in Align Technology during the first quarter valued at $26,000. Cornerstone Planning Group LLC bought a new stake in shares of Align Technology in the 2nd quarter worth about $29,000. Huntington National Bank lifted its holdings in shares of 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 acquiring an additional 56 shares during the last quarter. First Manhattan CO. LLC. lifted its holdings in shares of Align Technology by 593.8% in the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 95 shares during the last quarter. Finally, ST Germain D J Co. Inc. bought a new stake in shares of Align Technology in the 2nd quarter worth about $44,000. Institutional investors own 88.43% of the company’s stock.

Insider Transactions at Align Technology

In related news, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction that occurred 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 completion of the sale, the director now directly owns 146,994 shares in the company, valued at approximately $46,010,591.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the sale, the director now owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. 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 in the last 90 days. Insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ALGN shares. UBS Group raised their target price on shares of Align Technology from $200.00 to $260.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Stifel Nicolaus raised their price target on shares of Align Technology from $340.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. SVB Leerink started coverage on shares of Align Technology in a research note on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target on the stock. The Goldman Sachs Group raised their price target on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research note on Friday, February 2nd. Finally, Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. 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. According to data from MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.45.

Align Technology Stock Up 0.0 %

Shares of Align Technology stock opened at $327.92 on Friday. The firm’s 50 day moving average price is $298.46 and its 200-day moving average price is $269.61. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $413.20. The company has a market cap of $24.63 billion, a P/E ratio of 56.34, a PEG ratio of 5.76 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. As a group, equities research analysts forecast that Align Technology, Inc. will post 7.65 EPS for the current fiscal year.

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.