US Bancorp DE Lowers Stock Holdings in Align Technology, Inc. $ALGN

US Bancorp DE lessened its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 13.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 63,241 shares of the medical equipment provider’s stock after selling 9,880 shares during the quarter. US Bancorp DE’s holdings in Align Technology were worth $7,919,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atria Investments Inc boosted its stake in shares of Align Technology by 4.9% in the second quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock worth $298,000 after acquiring an additional 74 shares during the period. Arizona State Retirement System lifted its holdings in Align Technology by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 20,387 shares of the medical equipment provider’s stock worth $2,553,000 after purchasing an additional 79 shares in the last quarter. Sentry Investment Management LLC grew its holdings in Align Technology by 73.1% during the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Rothschild Investment LLC grew its holdings in Align Technology by 140.3% during the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 87 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its position in shares of Align Technology by 0.3% during the second quarter. Royal London Asset Management Ltd. now owns 31,629 shares of the medical equipment provider’s stock valued at $5,988,000 after buying an additional 93 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Wells Fargo & Company increased their price objective on shares of Align Technology from $181.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Morgan Stanley lifted their target price on Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Jefferies Financial Group increased their price target on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Finally, Barclays lifted their price objective on Align Technology from $170.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $198.08.

Insider Activity at Align Technology

In related news, EVP John Morici sold 7,969 shares of Align Technology stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the completion of the transaction, the executive vice president directly owned 8,237 shares of the company’s stock, valued at approximately $1,559,346.47. The trade was a 49.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $190.10 on Monday. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30. The business’s 50 day moving average is $172.32 and its two-hundred day moving average is $151.10. The stock has a market capitalization of $13.64 billion, a P/E ratio of 33.59, a PEG ratio of 2.08 and a beta of 1.79.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 EPS. As a group, equities research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.