Truist Financial Corp raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 24.8% in the 4th quarter, Holdings Channel reports. The fund owned 11,165 shares of the medical equipment provider’s stock after acquiring an additional 2,220 shares during the quarter. Truist Financial Corp’s holdings in Align Technology were worth $3,059,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Huntington National Bank raised its stake in shares of Align Technology by 94.9% during the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 56 shares during the last quarter. Orion Capital Management LLC purchased a new position in Align Technology during the 3rd quarter worth $61,000. Operose Advisors LLC acquired a new stake in shares of Align Technology in the 3rd quarter worth $63,000. Covestor Ltd boosted its holdings in shares of Align Technology by 379.5% in the third quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock valued at $64,000 after acquiring an additional 167 shares in the last quarter. Finally, Valley National Advisers Inc. increased its stake in shares of Align Technology by 29.7% during the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock worth $65,000 after acquiring an additional 49 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.
Align Technology Price Performance
Shares of ALGN opened at $286.52 on Wednesday. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The stock has a market cap of $21.56 billion, a price-to-earnings ratio of 47.20, a price-to-earnings-growth ratio of 5.29 and a beta of 1.66. The firm has a 50 day simple moving average of $310.10 and a 200-day simple moving average of $271.70.
Analyst Ratings Changes
Get Our Latest Stock Analysis on ALGN
Insider Buying and Selling at Align Technology
In other news, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the sale, the director now directly owns 146,994 shares in the company, valued at $46,010,591.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is owned by insiders.
Align Technology 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.
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