First Bank & Trust Has $1.19 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

First Bank & Trust lessened its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 24.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,677 shares of the medical equipment provider’s stock after selling 1,507 shares during the period. First Bank & Trust’s holdings in Align Technology were worth $1,189,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALGN. Wealth Enhancement Advisory Services LLC grew its holdings in Align Technology by 12.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,294 shares of the medical equipment provider’s stock valued at $2,064,000 after purchasing an additional 697 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of Align Technology in the first quarter worth $306,000. Azzad Asset Management Inc. ADV grew its stake in shares of Align Technology by 9.2% in the first quarter. Azzad Asset Management Inc. ADV now owns 13,622 shares of the medical equipment provider’s stock worth $4,467,000 after acquiring an additional 1,149 shares during the last quarter. Norden Group LLC grew its stake in shares of Align Technology by 3,647.7% in the first quarter. Norden Group LLC now owns 36,540 shares of the medical equipment provider’s stock worth $11,982,000 after acquiring an additional 35,565 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in shares of Align Technology by 43.4% in the first quarter. First Trust Direct Indexing L.P. now owns 2,010 shares of the medical equipment provider’s stock worth $659,000 after acquiring an additional 608 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Evercore ISI lowered their price objective on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Thursday. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Stifel Nicolaus reduced their target price on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Morgan Stanley reduced their target price on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $276.38.

Insiders Place Their Bets

In other news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the acquisition, the director now owns 28,247 shares of the company’s stock, valued at $6,647,366.51. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.62% of the company’s stock.

Align Technology Trading Up 1.3 %

NASDAQ ALGN traded up $2.88 on Friday, hitting $219.30. 1,145,141 shares of the company were exchanged, compared to its average volume of 780,594. The firm has a 50 day moving average of $233.41 and a two-hundred day moving average of $250.02. The company has a market cap of $16.51 billion, a P/E ratio of 36.13, a P/E/G ratio of 5.33 and a beta of 1.64. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.04. The business had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 EPS. Research analysts anticipate that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

Align Technology 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.