North Growth Management Ltd. Acquires 4,000 Shares of Align Technology, Inc. (NASDAQ:ALGN)

North Growth Management Ltd. increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 13.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,000 shares of the medical equipment provider’s stock after purchasing an additional 4,000 shares during the quarter. Align Technology accounts for 1.9% of North Growth Management Ltd.’s holdings, making the stock its 24th biggest position. North Growth Management Ltd.’s holdings in Align Technology were worth $9,104,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Huntington National Bank grew its stake in shares of Align Technology by 94.9% during the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 56 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Align Technology in the 3rd quarter valued at about $61,000. Operose Advisors LLC bought a new position in Align Technology during the third quarter worth about $63,000. Covestor Ltd increased its position in Align Technology by 379.5% during the third quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock worth $64,000 after buying an additional 167 shares during the last quarter. Finally, Valley National Advisers Inc. increased its holdings in shares of Align Technology by 29.7% during the 3rd quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock worth $65,000 after acquiring an additional 49 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Up 0.0 %

NASDAQ:ALGN traded up $0.12 on Monday, hitting $271.82. The company had a trading volume of 327,554 shares, compared to its average volume of 742,636. The firm has a 50 day moving average of $308.52 and a two-hundred day moving average of $271.98. The stock has a market capitalization of $20.46 billion, a price-to-earnings ratio of 44.69, a PEG ratio of 4.99 and a beta of 1.66. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20.

Insider Buying and Selling at Align Technology

In other news, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the transaction, the director now owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on ALGN shares. Morgan Stanley upped their price objective on shares of Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. The Goldman Sachs Group raised their price objective on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $375.00 target price (up previously from $355.00) on shares of Align Technology in a research report on Thursday, April 25th. Stifel Nicolaus raised their price target on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Robert W. Baird boosted their price target on Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and an average price target of $353.00.

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.