Canandaigua National Bank & Trust Co. Has $1.56 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

Canandaigua National Bank & Trust Co. decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,587 shares of the medical equipment provider’s stock after selling 191 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Align Technology were worth $1,559,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Vigilant Capital Management LLC acquired a new position in Align Technology during the fourth quarter valued at approximately $38,000. Squar Milner Financial Services LLC grew its holdings in Align Technology by 115.4% during 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 period. Huntington National Bank grew its holdings in Align Technology by 21,100.0% during the fourth quarter. Huntington National Bank now owns 212 shares of the medical equipment provider’s stock valued at $59,000 after purchasing an additional 211 shares during the period. CSat Investment Advisory L.P. grew its holdings in Align Technology by 218.7% during 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 period. Finally, Private Capital Group LLC grew its holdings in Align Technology by 1,405.3% during the second quarter. Private Capital Group LLC now owns 286 shares of the medical equipment provider’s stock valued at $98,000 after purchasing an additional 267 shares during the period. Institutional investors own 81.98% of the company’s stock.

Shares of Align Technology stock traded down $5.25 on Friday, hitting $279.78. The company had a trading volume of 20,815 shares, compared to its average volume of 832,680. The firm has a market capitalization of $21.60 billion, a P/E ratio of 57.16, a P/E/G ratio of 2.04 and a beta of 2.05. Align Technology, Inc. has a twelve month low of $169.84 and a twelve month high of $334.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.73 and a quick ratio of 1.62. The stock has a 50-day moving average of $278.28 and a 200-day moving average of $234.29.

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

A number of brokerages recently issued reports on ALGN. Stifel Nicolaus boosted their price objective on shares of Align Technology from $290.00 to $305.00 and gave the company a “buy” rating in a report on Monday, November 18th. Zacks Investment Research upgraded shares of Align Technology from a “sell” rating to a “hold” rating and set a $262.00 price objective for the company in a report on Friday, October 25th. Barclays reduced their price target on shares of Align Technology from $300.00 to $272.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Wolfe Research upgraded shares of Align Technology from a “peer perform” rating to an “outperform” rating and set a $360.00 price target for the company in a report on Thursday, January 9th. Finally, Stephens reiterated a “hold” rating and issued a $220.00 price target on shares of Align Technology in a report on Tuesday, November 19th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Align Technology currently has a consensus rating of “Buy” and a consensus price target of $266.08.

In other news, SVP Julie Tay sold 2,739 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $280.01, for a total value of $766,947.39. Following the sale, the senior vice president now owns 11,366 shares of the company’s stock, valued at $3,182,593.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Yuval Shaked sold 500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $260.25, for a total transaction of $130,125.00. Following the completion of the sale, the director now directly owns 841 shares in the company, valued at approximately $218,870.25. The disclosure for this sale can be found here. In the last three months, insiders sold 26,199 shares of company stock worth $6,787,761. 1.30% of the stock is currently owned by insiders.

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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