Country Trust Bank Sells 6,109 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Country Trust Bank reduced its stake in Align Technology, Inc. (NASDAQ:ALGN) by 5.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,429 shares of the medical equipment provider’s stock after selling 6,109 shares during the period. Country Trust Bank owned 0.13% of Align Technology worth $20,315,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ALGN. Baker Avenue Asset Management LP bought a new position in Align Technology during the third quarter worth about $4,250,000. Swedbank AB boosted its stake in Align Technology by 30.1% during the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after acquiring an additional 90,000 shares during the last quarter. KBC Group NV grew its holdings in Align Technology by 11.8% during the third quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock valued at $13,595,000 after purchasing an additional 5,663 shares during the period. Nordea Investment Management AB grew its holdings in Align Technology by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock valued at $56,870,000 after purchasing an additional 9,139 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Align Technology by 2.6% in the third quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock worth $26,900,000 after purchasing an additional 2,717 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ALGN shares. Piper Sandler decreased their price target on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Morgan Stanley dropped their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Robert W. Baird lowered their target price on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Bank of America lifted their price target on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $267.45.

Align Technology Trading Up 0.4 %

Align Technology stock opened at $225.36 on Friday. Align Technology, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40. The company has a fifty day simple moving average of $223.08 and a 200 day simple moving average of $227.19. The company has a market cap of $16.82 billion, a P/E ratio of 38.46, a price-to-earnings-growth ratio of 4.92 and a beta of 1.67.

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.