First Bank & Trust Has $1.84 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

First Bank & Trust increased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 16.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,596 shares of the medical equipment provider’s stock after buying an additional 770 shares during the period. First Bank & Trust’s holdings in Align Technology were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in ALGN. Norges Bank bought a new stake in shares of Align Technology during the 4th quarter valued at $223,610,000. Ameriprise Financial Inc. lifted its position in Align Technology by 348.9% during the third quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider’s stock worth $230,938,000 after purchasing an additional 587,886 shares during the period. Brown Advisory Inc. lifted its position in Align Technology by 41.4% during the fourth quarter. Brown Advisory Inc. now owns 1,509,080 shares of the medical equipment provider’s stock worth $413,488,000 after purchasing an additional 441,754 shares during the period. Envestnet Asset Management Inc. grew its stake in Align Technology by 102.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 414,772 shares of the medical equipment provider’s stock worth $113,648,000 after buying an additional 209,419 shares in the last quarter. Finally, Avidity Partners Management LP bought a new position in Align Technology in the 4th quarter valued at about $42,689,000. 88.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Stifel Nicolaus increased their price target 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. 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. Piper Sandler lowered their price target on Align Technology from $375.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Evercore ISI dropped their price objective on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 10th. Finally, Morgan Stanley lifted their target price on Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. 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 stock. Based on data from MarketBeat.com, Align Technology currently has an average rating of “Moderate Buy” and an average target price of $346.50.

Align Technology Stock Performance

Shares of Align Technology stock traded down $1.57 on Friday, hitting $241.43. The stock had a trading volume of 1,346,028 shares, compared to its average volume of 881,732. The stock has a 50 day moving average of $266.69 and a 200 day moving average of $283.70. The firm has a market capitalization of $18.17 billion, a P/E ratio of 39.77, a PEG ratio of 4.50 and a beta of 1.62. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $413.20.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results 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. The firm had revenue of $997.43 million during the quarter, compared to analysts’ expectations of $971.97 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. Equities analysts expect that Align Technology, Inc. will post 7.86 earnings per share for the current 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.