Fifth Third Bancorp raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 49.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,541 shares of the medical equipment provider’s stock after purchasing an additional 2,490 shares during the quarter. Fifth Third Bancorp’s holdings in Align Technology were worth $1,590,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. General Partner Inc. acquired a new stake in Align Technology during the fourth quarter valued at approximately $29,000. Cullen Frost Bankers Inc. raised its stake in shares of Align Technology by 188.0% in the third quarter. Cullen Frost Bankers Inc. now owns 144 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 94 shares during the last quarter. Tsfg LLC raised its stake in shares of Align Technology by 40.0% in the fourth quarter. Tsfg LLC now owns 175 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 50 shares during the last quarter. MCF Advisors LLC raised its stake in shares of Align Technology by 2,090.0% in the third quarter. MCF Advisors LLC now owns 219 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 209 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of Align Technology by 100.9% in the fourth quarter. Allworth Financial LP now owns 223 shares of the medical equipment provider’s stock valued at $47,000 after acquiring an additional 112 shares during the last quarter. 84.90% of the stock is owned by institutional investors and hedge funds.
Align Technology Stock Performance
Shares of Align Technology stock opened at $323.14 on Friday. The firm has a fifty day moving average of $318.37 and a two-hundred day moving average of $247.57. The stock has a market capitalization of $24.76 billion, a price-to-earnings ratio of 70.10, a PEG ratio of 3.18 and a beta of 1.60. Align Technology, Inc. has a 52 week low of $172.05 and a 52 week high of $431.27.
Insider Buying and Selling at Align Technology
In other Align Technology news, CFO John Morici bought 587 shares of the company’s stock in a transaction on Wednesday, February 8th. The stock was bought at an average price of $341.84 per share, for a total transaction of $200,660.08. Following the transaction, the chief financial officer now owns 8,204 shares of the company’s stock, valued at approximately $2,804,455.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Joseph M. Hogan acquired 2,928 shares of the stock in a transaction that occurred on Wednesday, February 8th. The stock was acquired at an average price of $341.50 per share, for a total transaction of $999,912.00. Following the transaction, the chief executive officer now directly owns 188,417 shares in the company, valued at $64,344,405.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Morici acquired 587 shares of the stock in a transaction that occurred on Wednesday, February 8th. The stock was purchased at an average price of $341.84 per share, with a total value of $200,660.08. Following the transaction, the chief financial officer now owns 8,204 shares in the company, valued at $2,804,455.36. The disclosure for this purchase can be found here. Corporate insiders own 0.64% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on ALGN shares. Robert W. Baird lifted their target price on shares of Align Technology from $260.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday, February 2nd. Piper Sandler lifted their target price on shares of Align Technology from $255.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Stifel Nicolaus lifted their target price on shares of Align Technology from $265.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. StockNews.com began coverage on shares of Align Technology in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, CICC Research began coverage on shares of Align Technology in a research report on Thursday, March 23rd. They issued a “market perform” rating for the company. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $358.78.
About Align Technology
Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of Invisalign full, teen, and assist products, and Vivera retainers for treating malocclusion.
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