Amalgamated Bank Sells 4,004 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Amalgamated Bank lessened its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 20.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,772 shares of the medical equipment provider's stock after selling 4,004 shares during the period. Amalgamated Bank's holdings in Align Technology were worth $5,172,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Deepwater Asset Management LLC raised its holdings in Align Technology by 46.8% in the fourth quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider's stock worth $13,421,000 after buying an additional 15,608 shares during the last quarter. London & Capital Asset Management Ltd lifted its position in Align Technology by 7.1% in the 4th quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider's stock valued at $15,899,000 after acquiring an additional 3,843 shares in the last quarter. Morgan Stanley boosted its stake in Align Technology by 9.8% during the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider's stock valued at $310,866,000 after purchasing an additional 90,581 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Align Technology by 24.8% in the 4th quarter. Truist Financial Corp now owns 11,165 shares of the medical equipment provider's stock worth $3,059,000 after purchasing an additional 2,220 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its stake in shares of Align Technology by 20.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 33,344 shares of the medical equipment provider's stock worth $9,136,000 after purchasing an additional 5,759 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. SVB Leerink started coverage on shares of Align Technology in a research report on Monday, February 26th. They issued a "market perform" rating and a $310.00 target price for the company. Piper Sandler reiterated an "overweight" rating and set a $375.00 price objective (up previously from $355.00) on shares of Align Technology in a research report on Thursday, April 25th. The Goldman Sachs Group raised their target price on Align Technology from $197.00 to $225.00 and gave the stock a "sell" rating in a research report on Friday, February 2nd. UBS Group boosted their price target on Align Technology from $280.00 to $320.00 and gave the company a "neutral" rating in a research note on Monday, April 15th. Finally, Leerink Partnrs reiterated a "market perform" rating on shares of Align Technology in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Align Technology has an average rating of "Moderate Buy" and a consensus price target of $353.00.

Insider Buying and Selling at Align Technology

In other Align Technology news, Director Joseph Lacob sold 15,000 shares of Align Technology stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the sale, the director now owns 131,994 shares of the company's stock, valued at approximately $40,023,220.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.62% of the company's stock.

Align Technology Price Performance

Shares of NASDAQ:ALGN traded down $3.42 during trading on Tuesday, hitting $264.02. 502,728 shares of the company's stock were exchanged, compared to its average volume of 734,111. The business's 50-day simple moving average is $304.54 and its 200 day simple moving average is $275.61. The company has a market cap of $19.88 billion, a price-to-earnings ratio of 43.50, a PEG ratio of 4.99 and a beta of 1.66. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $413.20.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $971.97 million. On average, sell-side analysts anticipate that Align Technology, Inc. will post 7.92 EPS for the current fiscal year.

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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