National Bank of Canada FI Buys 29,271 Shares of Align Technology, Inc. (NASDAQ:ALGN)

National Bank of Canada FI raised its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 70.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,070 shares of the medical equipment provider's stock after acquiring an additional 29,271 shares during the quarter. National Bank of Canada FI owned approximately 0.09% of Align Technology worth $19,116,000 as of its most recent SEC filing.

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

Insider Activity at Align Technology

In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the business's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the transaction, the director now owns 146,994 shares in the company, valued at $46,010,591.94. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.62% of the company's stock.

Align Technology Price Performance

ALGN stock traded down $12.87 during midday trading on Wednesday, reaching $273.65. 1,226,397 shares of the company's stock traded hands, compared to its average volume of 749,768. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20. The business has a 50-day moving average price of $310.10 and a two-hundred day moving average price of $271.70. The company has a market capitalization of $20.59 billion, a P/E ratio of 43.87, a PEG ratio of 5.29 and a beta of 1.66.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALGN. SVB Leerink initiated coverage on shares of Align Technology in a research report on Monday, February 26th. They set a "market perform" rating and a $310.00 price objective for the company. Robert W. Baird raised their target price on Align Technology from $333.00 to $370.00 and gave the company an "outperform" rating in a report on Thursday, April 25th. UBS Group raised their price objective on shares of Align Technology from $280.00 to $320.00 and gave the company a "neutral" rating in a research note on Monday, April 15th. Stifel Nicolaus upped their target price on shares of Align Technology from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Thursday, April 18th. Finally, Leerink Partnrs reiterated a "market perform" rating on shares of Align Technology in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $353.00.

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.