National Bank of Canada FI Acquires 29,271 Shares of Align Technology, Inc. (NASDAQ:ALGN)

National Bank of Canada FI raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 70.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 71,070 shares of the medical equipment provider’s stock after acquiring an additional 29,271 shares during the period. National Bank of Canada FI owned approximately 0.09% of Align Technology worth $19,116,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Morgan Stanley lifted its position in Align Technology by 9.8% during 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 during the period. Rhenman & Partners Asset Management AB purchased a new position in shares of Align Technology in the 3rd quarter worth $305,000. Invesco Ltd. grew its holdings in shares of Align Technology by 15.4% in the third quarter. Invesco Ltd. now owns 960,271 shares of the medical equipment provider’s stock worth $293,190,000 after acquiring an additional 128,273 shares during the period. Northern Trust Corp grew its holdings in shares of Align Technology by 2.7% in the third quarter. Northern Trust Corp now owns 831,469 shares of the medical equipment provider’s stock worth $253,864,000 after acquiring an additional 21,490 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Align Technology by 348.9% during the third quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider’s stock valued at $230,938,000 after acquiring an additional 587,886 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ALGN shares. UBS Group raised their target price on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. The Goldman Sachs Group boosted their target price on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. Piper Sandler reiterated an “overweight” rating and issued a $375.00 price target (up from $355.00) on shares of Align Technology in a research report on Thursday, April 25th. 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. Finally, Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $353.00.

Insider Transactions at Align Technology

In related news, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the transaction, the director now directly owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Align Technology Stock Performance

Shares of ALGN stock opened at $286.52 on Wednesday. The stock has a fifty day simple moving average of $310.10 and a two-hundred day simple moving average of $271.70. The firm has a market capitalization of $21.56 billion, a PE ratio of 47.20, a PEG ratio of 5.29 and a beta of 1.66. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $413.20.

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.