CNB Bank Sells 111 Shares of Align Technology, Inc. (NASDAQ:ALGN)

CNB Bank trimmed its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 44.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 137 shares of the medical equipment provider’s stock after selling 111 shares during the quarter. CNB Bank’s holdings in Align Technology were worth $35,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Los Angeles Capital Management LLC increased its holdings in Align Technology by 76.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 4,721 shares of the medical equipment provider’s stock valued at $1,548,000 after acquiring an additional 2,046 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Align Technology in the first quarter worth about $26,000. Banque Cantonale Vaudoise boosted its stake in Align Technology by 52.7% during the first quarter. Banque Cantonale Vaudoise now owns 1,849 shares of the medical equipment provider’s stock valued at $607,000 after buying an additional 638 shares during the last quarter. Park Avenue Securities LLC grew its holdings in Align Technology by 13.2% during the 1st quarter. Park Avenue Securities LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $856,000 after buying an additional 304 shares in the last quarter. Finally, Cooper Financial Group increased its stake in Align Technology by 9.2% in the 1st quarter. Cooper Financial Group now owns 1,366 shares of the medical equipment provider’s stock worth $448,000 after acquiring an additional 115 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the acquisition, the director now directly owns 28,247 shares in the company, valued at $6,647,366.51. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Align Technology Trading Up 1.7 %

Shares of ALGN stock opened at $219.70 on Monday. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $335.40. The stock has a fifty day simple moving average of $234.57 and a two-hundred day simple moving average of $252.71. The stock has a market capitalization of $16.54 billion, a price-to-earnings ratio of 36.19, a P/E/G ratio of 5.33 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 earnings per share. Research analysts predict that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on ALGN. Piper Sandler lowered their target price on Align Technology from $315.00 to $285.00 and set an “overweight” rating for the company in a research report on Thursday. Morgan Stanley decreased their price objective on Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Needham & Company LLC initiated coverage on Align Technology in a report on Thursday, October 10th. They issued a “hold” rating for the company. Evercore ISI cut their price objective on shares of Align Technology from $280.00 to $270.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Finally, StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $291.25.

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.