First Mercantile Trust Co. Buys Shares of 491 Align Technology, Inc. (NASDAQ:ALGN)

First Mercantile Trust Co. bought a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 491 shares of the medical equipment provider’s stock, valued at approximately $89,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ossiam bought a new position in Align Technology during the second quarter valued at about $43,000. TRUE Private Wealth Advisors acquired a new stake in shares of Align Technology in the second quarter valued at about $45,000. Squar Milner Financial Services LLC grew its position in shares of Align Technology by 115.4% in the third quarter. Squar Milner Financial Services LLC now owns 168 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. CSat Investment Advisory L.P. grew its position in shares of Align Technology by 218.7% in the second quarter. CSat Investment Advisory L.P. now owns 239 shares of the medical equipment provider’s stock valued at $65,000 after purchasing an additional 164 shares during the last quarter. Finally, FTB Advisors Inc. grew its position in shares of Align Technology by 102.9% in the second quarter. FTB Advisors Inc. now owns 278 shares of the medical equipment provider’s stock valued at $76,000 after purchasing an additional 141 shares during the last quarter. Institutional investors own 88.88% of the company’s stock.

ALGN stock traded up $3.68 during trading on Tuesday, reaching $262.28. 17,684 shares of the stock were exchanged, compared to its average volume of 1,136,618. Align Technology, Inc. has a twelve month low of $169.84 and a twelve month high of $334.64. The company has a market capitalization of $20.49 billion, a P/E ratio of 53.26, a price-to-earnings-growth ratio of 2.28 and a beta of 2.07. The stock has a 50 day simple moving average of $215.25 and a 200-day simple moving average of $244.44. The company has a current ratio of 1.73, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.14. The company had revenue of $607.30 million for the quarter, compared to the consensus estimate of $595.29 million. Align Technology had a return on equity of 28.76% and a net margin of 18.28%. The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 earnings per share. Equities analysts predict that Align Technology, Inc. will post 5.17 EPS for the current year.

Several equities research analysts have recently issued reports on ALGN shares. Zacks Investment Research raised Align Technology from a “sell” rating to a “hold” rating and set a $262.00 price target on the stock in a research report on Friday, October 25th. Barclays decreased their target price on Align Technology from $300.00 to $272.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Credit Suisse Group decreased their target price on Align Technology from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. UBS Group set a $230.00 target price on Align Technology and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Stifel Nicolaus decreased their target price on Align Technology from $360.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $255.27.

In other Align Technology news, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $177.64, for a total transaction of $1,776,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Stuart A. Hockridge sold 5,049 shares of Align Technology stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $250.08, for a total value of $1,262,653.92. The disclosure for this sale can be found here. Insiders have sold 28,648 shares of company stock worth $6,204,608 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Align Technology Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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

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