Keybank National Association OH Sells 39,165 Shares of Align Technology, Inc. $ALGN

Keybank National Association OH cut its stake in Align Technology, Inc. (NASDAQ:ALGN) by 12.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 280,872 shares of the medical equipment provider’s stock after selling 39,165 shares during the quarter. Keybank National Association OH owned 0.39% of Align Technology worth $35,171,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Align Technology by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock worth $1,624,000 after buying an additional 469 shares during the last quarter. Focus Partners Wealth boosted its position in Align Technology by 5.2% in the first quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock worth $486,000 after purchasing an additional 151 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Align Technology in the second quarter worth about $204,000. Farther Finance Advisors LLC grew its stake in shares of Align Technology by 42.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider’s stock valued at $59,000 after purchasing an additional 92 shares during the period. Finally, Truist Financial Corp increased its position in shares of Align Technology by 2.3% during the 2nd quarter. Truist Financial Corp now owns 4,227 shares of the medical equipment provider’s stock valued at $800,000 after purchasing an additional 95 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

Shares of Align Technology stock opened at $163.03 on Friday. The stock has a market cap of $11.70 billion, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 1.84 and a beta of 1.83. The stock has a 50 day moving average price of $161.01 and a 200-day moving average price of $149.23. Align Technology, Inc. has a one year low of $122.00 and a one year high of $232.20.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.23. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.The company had revenue of $995.69 million during the quarter, compared to the consensus estimate of $980.75 million. During the same period last year, the company earned $2.35 earnings per share. Align Technology’s revenue was up 1.8% on a year-over-year basis. Sell-side analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Wells Fargo & Company reduced their price target on Align Technology from $199.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price objective (up previously from $190.00) on shares of Align Technology in a research note on Thursday, October 30th. Stifel Nicolaus set a $200.00 price objective on Align Technology in a research note on Thursday, October 30th. Finally, Barclays assumed coverage on shares of Align Technology in a report on Monday, December 8th. They set an “equal weight” rating and a $170.00 price target on the stock. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Align Technology has an average rating of “Hold” and an average target price of $176.82.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.