Align Technology, Inc. $ALGN Shares Purchased by Zions Bancorporation National Association UT

Zions Bancorporation National Association UT boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 3,620.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,874 shares of the medical equipment provider’s stock after buying an additional 4,743 shares during the period. Zions Bancorporation National Association UT’s holdings in Align Technology were worth $610,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Sentry Investment Management LLC raised its stake in shares of Align Technology by 73.1% in the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Align Technology during the 3rd quarter worth approximately $26,000. Rothschild Investment LLC increased its holdings in Align Technology by 140.3% in the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 87 shares during the last quarter. True Wealth Design LLC raised its position in Align Technology by 7,650.0% in the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 153 shares during the period. Finally, Quent Capital LLC acquired a new position in Align Technology during the third quarter worth $30,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ALGN. Piper Sandler lifted their price objective on Align Technology from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Leerink Partners boosted their price target on shares of Align Technology from $210.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. UBS Group increased their price target on shares of Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Finally, Wells Fargo & Company lifted 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. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Align Technology presently has an average rating of “Hold” and a consensus target price of $195.58.

Align Technology Stock Up 0.2%

Shares of NASDAQ:ALGN opened at $187.22 on Wednesday. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $208.30. The firm’s 50 day moving average price is $168.21 and its 200 day moving average price is $148.35. The stock has a market cap of $13.43 billion, a price-to-earnings ratio of 33.08, a price-to-earnings-growth ratio of 2.05 and a beta of 1.84.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm posted $2.44 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology 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.