OLD National Bancorp IN Sells 72 Shares of Align Technology, Inc. (NASDAQ:ALGN)

OLD National Bancorp IN lessened its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,153 shares of the medical equipment provider’s stock after selling 72 shares during the quarter. OLD National Bancorp IN’s holdings in Align Technology were worth $316,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALGN. Huntington National Bank increased its holdings in 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 buying an additional 56 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in shares of Align Technology in the 3rd quarter valued at $61,000. Orion Capital Management LLC acquired a new stake in shares of Align Technology in the 3rd quarter valued at $61,000. Operose Advisors LLC acquired a new stake in shares of Align Technology in the 3rd quarter valued at $63,000. Finally, Covestor Ltd boosted its stake in shares of 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 purchasing an additional 167 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Insider Buying and Selling at Align Technology

In other news, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the sale, the director now directly owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the sale, the director now directly owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,524 shares of company stock worth $8,403,924. Company insiders own 0.64% of the company’s stock.

Align Technology Stock Down 1.0 %

Shares of NASDAQ ALGN opened at $310.50 on Friday. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The company has a market cap of $23.37 billion, a price-to-earnings ratio of 53.35, a price-to-earnings-growth ratio of 5.59 and a beta of 1.65. The firm’s 50-day simple moving average is $313.38 and its 200 day simple moving average is $270.80.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The company had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. On average, equities analysts expect that Align Technology, Inc. will post 7.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Piper Sandler restated an “overweight” rating and issued a $375.00 target price (up previously from $355.00) on shares of Align Technology in a research note on Thursday. UBS Group boosted their target price 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. SVB Leerink assumed coverage on shares of Align Technology in a research note on Monday, February 26th. They issued a “market perform” rating and a $310.00 target price on the stock. 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. Finally, Leerink Partnrs restated a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and an average price target of $341.36.

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.