National Bank of Canada FI Has $19.12 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

National Bank of Canada FI boosted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 70.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 71,070 shares of the medical equipment provider’s stock after acquiring an additional 29,271 shares during the quarter. National Bank of Canada FI’s holdings in Align Technology were worth $19,116,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Deepwater Asset Management LLC grew its holdings in shares of Align Technology by 46.8% during the 4th quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock valued at $13,421,000 after purchasing an additional 15,608 shares during the last quarter. London & Capital Asset Management Ltd boosted its holdings in shares of Align Technology by 7.1% during the 4th quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock valued at $15,899,000 after acquiring an additional 3,843 shares in the last quarter. Morgan Stanley grew its position in Align Technology by 9.8% during the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock worth $310,866,000 after acquiring an additional 90,581 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Align Technology by 20.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 33,344 shares of the medical equipment provider’s stock worth $9,136,000 after purchasing an additional 5,759 shares in the last quarter. Finally, Factory Mutual Insurance Co. raised its position in Align Technology by 26.3% in the fourth quarter. Factory Mutual Insurance Co. now owns 143,293 shares of the medical equipment provider’s stock valued at $39,262,000 after purchasing an additional 29,800 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Insider Activity

In other news, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Align Technology Trading Down 0.3 %

ALGN stock opened at $286.52 on Wednesday. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The stock has a market cap of $21.56 billion, a price-to-earnings ratio of 47.20, a price-to-earnings-growth ratio of 5.29 and a beta of 1.66. The company’s 50 day moving average is $310.10 and its 200 day moving average is $271.70.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Stifel Nicolaus boosted their price objective on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Robert W. Baird increased their target price 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. SVB Leerink began coverage on shares of Align Technology in a research report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target on the stock. 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 issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $353.00.

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.