Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp lessened its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,620 shares of the medical equipment provider’s stock after selling 413 shares during the quarter. Heritage Investors Management Corp’s holdings in Align Technology were worth $4,006,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ALGN. Huntington National Bank lifted its stake in Align Technology by 94.9% in the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 56 shares during the last quarter. Orion Capital Management LLC purchased a new stake in Align Technology in the 3rd quarter valued at $61,000. Operose Advisors LLC acquired a new stake in Align Technology during the 3rd quarter worth $63,000. Covestor Ltd grew its position in Align Technology by 379.5% during the 3rd quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock worth $64,000 after purchasing an additional 167 shares during the last quarter. Finally, Valley National Advisers Inc. increased its stake in Align Technology by 29.7% in the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock valued at $65,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Performance

ALGN stock traded up $6.74 during trading on Thursday, reaching $280.39. 572,933 shares of the company were exchanged, compared to its average volume of 747,814. The stock’s 50 day moving average price is $309.52 and its 200 day moving average price is $271.71. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $413.20. The company has a market cap of $21.10 billion, a P/E ratio of 46.19, a PEG ratio of 5.29 and a beta of 1.66.

Insider Buying and Selling

In other news, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 131,994 shares in the company, valued at $40,023,220.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. The Goldman Sachs Group boosted their target price on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Stifel Nicolaus boosted their price objective on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Piper Sandler restated an “overweight” rating and issued a $375.00 target price (up previously from $355.00) on shares of Align Technology in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $353.00.

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.