Schaper Benz & Wise Investment Counsel Inc. WI Boosts Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 23.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,462 shares of the medical equipment provider's stock after acquiring an additional 7,020 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI's holdings in Align Technology were worth $9,991,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank boosted its stake in shares of Align Technology by 94.9% during the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider's stock worth $35,000 after buying an additional 56 shares during the last quarter. Orion Capital Management LLC bought a new stake in Align Technology in the third quarter valued at $61,000. Operose Advisors LLC acquired a new stake in shares of Align Technology in the 3rd quarter worth about $63,000. Covestor Ltd increased its stake in Align Technology by 379.5% in the 3rd quarter. Covestor Ltd now owns 211 shares of the medical equipment provider's stock valued at $64,000 after buying an additional 167 shares during the last quarter. Finally, Valley National Advisers Inc. increased its stake in Align Technology by 29.7% in the 3rd quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider's stock valued at $65,000 after buying an additional 49 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ALGN has been the topic of a number of research reports. Leerink Partnrs reaffirmed a "market perform" rating on shares of Align Technology in a research note on Monday, February 26th. UBS Group increased their price target on Align Technology from $280.00 to $320.00 and gave the stock a "neutral" rating in a research note on Monday, April 15th. Piper Sandler reissued an "overweight" rating and set a $375.00 price target (up from $355.00) on shares of Align Technology in a research note on Thursday, April 25th. SVB Leerink started coverage on Align Technology in a research report on Monday, February 26th. They issued a "market perform" rating and a $310.00 price target for the company. Finally, The Goldman Sachs Group boosted their target price on shares of Align Technology from $197.00 to $225.00 and gave the company a "sell" rating in a research note on Friday, February 2nd. One 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's stock. According to MarketBeat, Align Technology presently has an average rating of "Moderate Buy" and an average target price of $353.00.

Insider Activity

In related news, Director Joseph Lacob sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the transaction, the director now owns 146,994 shares in the company, valued at $46,010,591.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Align Technology Stock Performance

Shares of NASDAQ:ALGN traded down $8.69 during trading on Friday, reaching $271.70. The company had a trading volume of 731,078 shares, compared to its average volume of 690,249. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $413.20. The firm has a market capitalization of $20.45 billion, a PE ratio of 44.76, a price-to-earnings-growth ratio of 5.15 and a beta of 1.66. The firm's fifty day moving average is $308.52 and its 200 day moving average is $271.81.

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.