First Bank & Trust Purchases 770 Shares of Align Technology, Inc. (NASDAQ:ALGN)

First Bank & Trust raised its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 16.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,596 shares of the medical equipment provider’s stock after acquiring an additional 770 shares during the period. First Bank & Trust’s holdings in Align Technology were worth $1,835,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. WD Rutherford LLC bought a new stake in shares of Align Technology in the 1st quarter valued at about $610,000. Wealth Enhancement Advisory Services LLC lifted its position in Align Technology by 12.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,294 shares of the medical equipment provider’s stock valued at $2,064,000 after purchasing an additional 697 shares during the last quarter. Evanson Asset Management LLC purchased a new stake in shares of Align Technology during the first quarter valued at approximately $394,000. Gateway Investment Advisers LLC grew its holdings in shares of Align Technology by 56.6% in the first quarter. Gateway Investment Advisers LLC now owns 2,822 shares of the medical equipment provider’s stock worth $925,000 after purchasing an additional 1,020 shares during the last quarter. Finally, Lbmc Investment Advisors LLC purchased a new position in shares of Align Technology in the first quarter worth $656,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Trading Down 0.6 %

ALGN traded down $1.57 during trading on Friday, reaching $241.43. The stock had a trading volume of 1,346,028 shares, compared to its average volume of 881,732. The company has a market capitalization of $18.17 billion, a price-to-earnings ratio of 39.77, a P/E/G ratio of 4.50 and a beta of 1.62. The stock’s 50 day moving average is $266.69 and its two-hundred day moving average is $283.70. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.08. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. The firm had revenue of $997.43 million for the quarter, compared to the consensus estimate of $971.97 million. On average, equities research analysts predict that Align Technology, Inc. will post 7.86 earnings per share for the current year.

Wall Street Analyst Weigh In

ALGN has been the subject of several analyst reports. Stifel Nicolaus increased their price target on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Evercore ISI cut their target price on Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, June 10th. Piper Sandler lowered their price target on Align Technology from $375.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. UBS Group lifted their price objective on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Finally, Morgan Stanley upped their target price on Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $346.50.

About Align Technology

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.