National Bank of Canada FI Buys 4,190 Shares of Align Technology, Inc. (NASDAQ:ALGN)

National Bank of Canada FI grew its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,016 shares of the medical equipment provider’s stock after purchasing an additional 4,190 shares during the quarter. National Bank of Canada FI’s holdings in Align Technology were worth $9,386,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the business. Public Sector Pension Investment Board increased its position in shares of Align Technology by 11.8% during the third quarter. Public Sector Pension Investment Board now owns 2,839 shares of the medical equipment provider’s stock valued at $722,000 after purchasing an additional 300 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of Align Technology by 240.4% during the third quarter. Benjamin Edwards Inc. now owns 919 shares of the medical equipment provider’s stock worth $234,000 after buying an additional 649 shares in the last quarter. Investment Management Corp of Ontario increased its holdings in Align Technology by 42.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 2,342 shares of the medical equipment provider’s stock valued at $596,000 after purchasing an additional 700 shares in the last quarter. Quarry LP raised its holdings in shares of Align Technology by 74.8% in the third quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 95 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of Align Technology by 34.3% during the third quarter. Quantinno Capital Management LP now owns 20,091 shares of the medical equipment provider’s stock valued at $5,110,000 after purchasing an additional 5,130 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on ALGN shares. Jefferies Financial Group decreased their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 price objective (down from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. Evercore ISI boosted 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. Mizuho decreased their price target on shares of Align Technology from $295.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, March 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $262.64.

Align Technology Stock Performance

NASDAQ:ALGN opened at $153.51 on Friday. Align Technology, Inc. has a 52-week low of $143.00 and a 52-week high of $331.64. The business’s fifty day moving average is $186.45 and its 200 day moving average is $211.67. The firm has a market cap of $11.24 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. Equities analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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.