Keybank National Association OH Sells 785 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Keybank National Association OH cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 320,060 shares of the medical equipment provider’s stock after selling 785 shares during the quarter. Keybank National Association OH owned approximately 0.43% of Align Technology worth $66,736,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ALGN. Charles Schwab Investment Management Inc. increased its holdings in Align Technology by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 465,607 shares of the medical equipment provider’s stock worth $97,084,000 after buying an additional 17,579 shares during the last quarter. Marathon Asset Management Ltd raised its holdings in shares of Align Technology by 34.2% in the 4th quarter. Marathon Asset Management Ltd now owns 207,816 shares of the medical equipment provider’s stock valued at $43,331,000 after acquiring an additional 52,947 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Align Technology during the fourth quarter valued at approximately $122,000. Jones Financial Companies Lllp raised its position in Align Technology by 60.8% during the fourth quarter. Jones Financial Companies Lllp now owns 648 shares of the medical equipment provider’s stock valued at $135,000 after purchasing an additional 245 shares in the last quarter. Finally, Modera Wealth Management LLC raised its holdings in shares of Align Technology by 2.7% during the 4th quarter. Modera Wealth Management LLC now owns 14,866 shares of the medical equipment provider’s stock valued at $3,100,000 after buying an additional 384 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Price Performance

ALGN stock opened at $175.09 on Tuesday. The business’s 50-day moving average is $211.30 and its two-hundred day moving average is $223.01. Align Technology, Inc. has a 1 year low of $174.89 and a 1 year high of $335.40. The firm has a market capitalization of $13.07 billion, a P/E ratio of 31.21, a P/E/G ratio of 2.24 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last issued its 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 return on equity of 13.84% and a net margin of 10.54%. On average, analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ALGN shares. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $235.00 to $280.00 in a report on Monday, January 6th. Mizuho started coverage on Align Technology in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective on the stock. Jefferies Financial Group lowered their price target on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Evercore ISI increased their target price on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $269.91.

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.