US Bancorp DE Has $17.37 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

US Bancorp DE decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,296 shares of the medical equipment provider’s stock after selling 4,126 shares during the quarter. US Bancorp DE’s holdings in Align Technology were worth $17,368,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Empirical Finance LLC lifted its stake in Align Technology by 2.1% in the third quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $632,000 after acquiring an additional 50 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in Align Technology by 6.6% in the third quarter. Crestwood Advisors Group LLC now owns 1,000 shares of the medical equipment provider’s stock valued at $254,000 after acquiring an additional 62 shares during the last quarter. Beech Hill Advisors Inc. lifted its stake in Align Technology by 0.6% in the fourth quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock valued at $2,425,000 after acquiring an additional 65 shares during the last quarter. New York Life Investment Management LLC lifted its stake in Align Technology by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider’s stock valued at $1,961,000 after acquiring an additional 68 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Align Technology by 26.6% in the third quarter. Covestor Ltd now owns 362 shares of the medical equipment provider’s stock valued at $92,000 after acquiring an additional 76 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALGN. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Mizuho initiated coverage on shares of Align Technology in a report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price for the company. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Jefferies Financial Group reduced their target price on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Finally, Piper Sandler reduced their target price on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.91.

Align Technology Trading Up 0.7 %

Shares of NASDAQ:ALGN opened at $187.03 on Monday. The firm has a 50 day moving average of $211.95 and a 200-day moving average of $223.44. The stock has a market capitalization of $13.96 billion, a PE ratio of 33.34, a PEG ratio of 2.24 and a beta of 1.67. Align Technology, Inc. has a 12 month low of $183.24 and a 12 month high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. On average, research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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.