Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp trimmed its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.7% in the 4th quarter, HoldingsChannel reports. The firm owned 14,620 shares of the medical equipment provider’s stock after selling 413 shares during the quarter. Heritage Investors Management Corp’s holdings in Align Technology were worth $4,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Morgan Stanley lifted its holdings in shares of Align Technology by 9.8% in the third quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock valued at $310,866,000 after purchasing an additional 90,581 shares in the last quarter. Rhenman & Partners Asset Management AB acquired a new stake in Align Technology during the 3rd quarter worth about $305,000. Invesco Ltd. grew its stake in Align Technology by 15.4% during the 3rd quarter. Invesco Ltd. now owns 960,271 shares of the medical equipment provider’s stock valued at $293,190,000 after acquiring an additional 128,273 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Align Technology by 2.7% in the 3rd quarter. Northern Trust Corp now owns 831,469 shares of the medical equipment provider’s stock valued at $253,864,000 after purchasing an additional 21,490 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Align Technology by 348.9% in the third quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider’s stock worth $230,938,000 after purchasing an additional 587,886 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ALGN shares. Robert W. Baird boosted their price objective on shares of Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. UBS Group upped their price target on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Piper Sandler reissued an “overweight” rating and set a $375.00 price objective (up previously from $355.00) on shares of Align Technology in a research report on Thursday, April 25th. Stifel Nicolaus upped their target price on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, The Goldman Sachs Group lifted their price target on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $353.00.

Insider Buying and Selling at Align Technology

In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 146,994 shares in the company, valued at $46,010,591.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Align Technology Stock Performance

Shares of NASDAQ ALGN traded up $6.74 during mid-day trading on Thursday, reaching $280.39. 572,933 shares of the company traded hands, compared to its average volume of 747,814. The company’s fifty day moving average is $309.52 and its two-hundred day moving average is $271.71. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20. The stock has a market cap of $21.10 billion, a PE ratio of 46.19, a price-to-earnings-growth ratio of 5.29 and a beta of 1.66.

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.