Bremer Trust National Association Buys Shares of 1,235 Align Technology, Inc. (ALGN)

Bremer Trust National Association bought a new position in Align Technology, Inc. (NASDAQ:ALGN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,235 shares of the medical equipment provider’s stock, valued at approximately $274,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Commonwealth Bank of Australia lifted its position in Align Technology by 10.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,129 shares of the medical equipment provider’s stock worth $169,000 after buying an additional 107 shares in the last quarter. QS Investors LLC lifted its position in Align Technology by 4.7% in the 2nd quarter. QS Investors LLC now owns 2,729 shares of the medical equipment provider’s stock worth $410,000 after buying an additional 123 shares in the last quarter. Bayesian Capital Management LP lifted its position in Align Technology by 3.2% in the 2nd quarter. Bayesian Capital Management LP now owns 6,500 shares of the medical equipment provider’s stock worth $976,000 after buying an additional 200 shares in the last quarter. Global Financial Private Capital LLC lifted its position in Align Technology by 8.6% in the 2nd quarter. Global Financial Private Capital LLC now owns 2,605 shares of the medical equipment provider’s stock worth $391,000 after buying an additional 206 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC lifted its position in Align Technology by 4.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 5,681 shares of the medical equipment provider’s stock worth $847,000 after buying an additional 241 shares in the last quarter. Institutional investors own 82.89% of the company’s stock.

In related news, Director Joseph Lacob sold 29,724 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $260.91, for a total value of $7,755,288.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Emory Wright sold 5,025 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $263.68, for a total transaction of $1,324,992.00. Following the completion of the transaction, the vice president now owns 80,762 shares in the company, valued at $21,295,324.16. The disclosure for this sale can be found here. Insiders sold a total of 52,849 shares of company stock worth $13,494,348 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Align Technology, Inc. (NASDAQ ALGN) opened at $258.43 on Friday. Align Technology, Inc. has a 12 month low of $88.56 and a 12 month high of $266.41. The company has a market cap of $20,720.00, a price-to-earnings ratio of 78.55, a PEG ratio of 1.98 and a beta of 1.43.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.19. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The business had revenue of $385.30 million for the quarter, compared to analyst estimates of $359.80 million. During the same period last year, the business posted $0.63 EPS. Align Technology’s revenue was up 38.3% compared to the same quarter last year. equities research analysts forecast that Align Technology, Inc. will post 3.67 earnings per share for the current year.

Several research analysts have recently commented on ALGN shares. Deutsche Bank started coverage on shares of Align Technology in a research note on Friday, December 8th. They set a “hold” rating and a $250.00 price target on the stock. Morgan Stanley increased their price target on shares of Align Technology from $257.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, November 27th. Leerink Swann restated an “outperform” rating and set a $250.00 price target on shares of Align Technology in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price target on the stock in a research note on Monday, October 30th. Finally, Credit Suisse Group increased their price target on shares of Align Technology from $175.00 to $209.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $236.75.

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About Align Technology

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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