Financial Gravity Wealth Inc. bought a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 191 shares of the medical equipment provider’s stock, valued at approximately $54,000.

Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Align Technology by 31.7% in the fourth quarter. BlackRock Inc. now owns 6,935,085 shares of the medical equipment provider’s stock valued at $1,452,414,000 after acquiring an additional 1,670,441 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Align Technology by 22.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,334,677 shares of the medical equipment provider’s stock valued at $279,521,000 after acquiring an additional 244,095 shares during the period. Geode Capital Management LLC boosted its position in shares of Align Technology by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,057,392 shares of the medical equipment provider’s stock valued at $221,101,000 after acquiring an additional 9,617 shares during the period. Northern Trust Corp boosted its position in shares of Align Technology by 0.5% in the fourth quarter. Northern Trust Corp now owns 922,908 shares of the medical equipment provider’s stock valued at $193,284,000 after acquiring an additional 4,994 shares during the period. Finally, Norges Bank bought a new stake in shares of Align Technology in the fourth quarter valued at about $180,162,000. 82.77% of the stock is owned by institutional investors.

ALGN stock opened at $290.63 on Tuesday. The stock has a market capitalization of $23.25 billion, a P/E ratio of 59.07, a P/E/G ratio of 2.57 and a beta of 2.13. Align Technology, Inc. has a 52 week low of $177.93 and a 52 week high of $398.88.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Tuesday, January 29th. The medical equipment provider reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.04. The business had revenue of $534.02 million during the quarter, compared to the consensus estimate of $512.03 million. Align Technology had a return on equity of 33.41% and a net margin of 20.35%. Equities analysts expect that Align Technology, Inc. will post 5.08 EPS for the current year.

A number of brokerages have recently issued reports on ALGN. BidaskClub cut shares of Align Technology from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Guggenheim began coverage on shares of Align Technology in a research report on Wednesday, April 17th. They issued a “buy” rating and a $335.00 target price for the company. Barclays set a $325.00 target price on shares of Align Technology and gave the company a “buy” rating in a research report on Thursday, April 11th. Credit Suisse Group boosted their target price on shares of Align Technology from $270.00 to $278.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. Finally, ValuEngine raised Align Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $331.07.

In other Align Technology news, Director Yuval Shaked sold 400 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $255.52, for a total transaction of $102,208.00. Following the completion of the transaction, the director now owns 24 shares of the company’s stock, valued at $6,132.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Lacob sold 20,000 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $258.31, for a total value of $5,166,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,650 shares of company stock valued at $5,586,633. 1.40% of the stock is owned by insiders.

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About Align Technology

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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