Truist Financial Corp Sells 717 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Truist Financial Corp lessened its position in Align Technology, Inc. (NASDAQ:ALGN) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,604 shares of the medical equipment provider’s stock after selling 717 shares during the quarter. Truist Financial Corp’s holdings in Align Technology were worth $1,377,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Align Technology by 49.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after acquiring an additional 866,663 shares during the period. Geode Capital Management LLC increased its holdings in shares of Align Technology by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock worth $443,810,000 after purchasing an additional 21,605 shares during the period. FMR LLC increased its holdings in shares of Align Technology by 43.0% during the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after purchasing an additional 367,508 shares during the period. Ninety One UK Ltd increased its holdings in shares of Align Technology by 3.7% during the 4th quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock worth $254,508,000 after purchasing an additional 43,524 shares during the period. Finally, Meridiem Investment Management Ltd. increased its holdings in shares of Align Technology by 63.7% during the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after purchasing an additional 297,472 shares during the period. Institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Bank of America boosted their price objective on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Piper Sandler decreased their target price on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Morgan Stanley decreased their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $269.91.

Align Technology Stock Up 0.7 %

NASDAQ:ALGN opened at $187.03 on Friday. The firm has a market cap of $13.96 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 2.24 and a beta of 1.67. Align Technology, Inc. has a 12 month low of $183.24 and a 12 month high of $335.40. The company’s 50-day moving average price is $211.95 and its two-hundred day moving average price is $223.39.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. On average, research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology Company 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.