Canandaigua National Bank & Trust Co. Sells 291 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Canandaigua National Bank & Trust Co. cut its holdings in Align Technology, Inc. (NASDAQ:ALGNFree Report) by 19.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,230 shares of the medical equipment provider’s stock after selling 291 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Align Technology were worth $403,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Capital Management LLC bought a new position in Align Technology in the third quarter worth about $61,000. Operose Advisors LLC purchased a new stake in shares of Align Technology during the third quarter valued at approximately $63,000. Covestor Ltd grew its holdings in shares of Align Technology by 379.5% during the third quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock valued at $64,000 after buying an additional 167 shares during the last quarter. Valley National Advisers Inc. grew its holdings in shares of Align Technology by 29.7% during the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock valued at $65,000 after buying an additional 49 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Align Technology by 97.2% during the fourth quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock valued at $77,000 after buying an additional 138 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALGN. Robert W. Baird raised their target price on shares of Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Evercore ISI dropped their target price on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, June 10th. UBS Group raised their target price on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Stifel Nicolaus increased 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, Piper Sandler reiterated an “overweight” rating and issued a $375.00 price target (up from $355.00) on shares of Align Technology in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $351.00.

Read Our Latest Report on ALGN

Align Technology Price Performance

Shares of ALGN stock traded down $2.43 on Tuesday, hitting $243.09. 473,056 shares of the stock traded hands, compared to its average volume of 756,647. The firm has a market cap of $18.30 billion, a price-to-earnings ratio of 40.26, a PEG ratio of 4.74 and a beta of 1.62. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20. The firm has a 50 day simple moving average of $279.46 and a two-hundred day simple moving average of $282.72.

Align Technology (NASDAQ:ALGNGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.54 by $0.08. The firm had revenue of $997.43 million for the quarter, compared to the consensus estimate of $971.97 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. Sell-side analysts forecast that Align Technology, Inc. will post 7.86 EPS for the current year.

Align Technology Company Profile

(Free Report)

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.

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

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