OLD National Bancorp IN Has $316,000 Stake in Align Technology, Inc. (NASDAQ:ALGN)

OLD National Bancorp IN decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.9% in the 4th quarter, Holdings Channel reports. The fund owned 1,153 shares of the medical equipment provider’s stock after selling 72 shares during the period. OLD National Bancorp IN’s holdings in Align Technology were worth $316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALGN. Capital Investment Advisors LLC grew its holdings in shares of Align Technology by 22.3% during the third quarter. Capital Investment Advisors LLC now owns 1,180 shares of the medical equipment provider’s stock worth $360,000 after purchasing an additional 215 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in shares of Align Technology by 3.1% during the third quarter. DAVENPORT & Co LLC now owns 2,172 shares of the medical equipment provider’s stock worth $663,000 after purchasing an additional 66 shares during the last quarter. Czech National Bank grew its holdings in shares of Align Technology by 47.7% during the third quarter. Czech National Bank now owns 12,441 shares of the medical equipment provider’s stock worth $3,798,000 after purchasing an additional 4,016 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Align Technology by 1.3% during the third quarter. Asset Management One Co. Ltd. now owns 30,319 shares of the medical equipment provider’s stock worth $9,257,000 after purchasing an additional 387 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Align Technology by 3.0% during the third quarter. Handelsbanken Fonder AB now owns 32,348 shares of the medical equipment provider’s stock worth $9,876,000 after purchasing an additional 936 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Trading Down 1.0 %

NASDAQ ALGN opened at $310.50 on Friday. The firm has a market capitalization of $23.37 billion, a P/E ratio of 53.35, a PEG ratio of 5.59 and a beta of 1.65. The business has a fifty day simple moving average of $313.38 and a 200 day simple moving average of $270.80. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $413.20.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. The business had revenue of $956.73 million during the quarter, compared to analyst estimates of $928.57 million. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. As a group, sell-side analysts predict that Align Technology, Inc. will post 7.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on ALGN. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Morgan Stanley upped their target price on Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday. Robert W. Baird upped their target price on Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday. SVB Leerink initiated coverage on Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 price target on the stock. Finally, The Goldman Sachs Group increased their price target on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Align Technology currently has an average rating of “Moderate Buy” and an average price target of $341.36.

Insider Activity

In other news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the completion of the sale, the director now directly owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Emory Wright sold 2,524 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders sold a total of 27,524 shares of company stock valued at $8,403,924 in the last ninety days. 0.64% of the stock is currently owned by insiders.

Align Technology Company 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.