Mackenzie Financial Corp Has $1.95 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Mackenzie Financial Corp cut its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,124 shares of the medical equipment provider’s stock after selling 52 shares during the period. Mackenzie Financial Corp’s holdings in Align Technology were worth $1,952,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Huntington National Bank lifted its position in Align Technology by 94.9% during the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 56 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in shares of Align Technology in the 3rd quarter valued at approximately $61,000. Orion Capital Management LLC acquired a new stake in shares of Align Technology in the 3rd quarter valued at approximately $61,000. Operose Advisors LLC acquired a new stake in shares of Align Technology in the 3rd quarter valued at approximately $63,000. Finally, Covestor Ltd raised its position in shares of Align Technology by 379.5% in the 3rd quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock valued at $64,000 after acquiring an additional 167 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on ALGN shares. SVB Leerink started coverage on shares of Align Technology in a research report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target on the stock. The Goldman Sachs Group increased their price target on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. Piper Sandler increased their price target on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. UBS Group increased their price target on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Finally, Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $344.45.

Align Technology Stock Up 3.7 %

Shares of ALGN opened at $311.88 on Wednesday. The stock has a market capitalization of $23.47 billion, a P/E ratio of 53.59, a P/E/G ratio of 5.35 and a beta of 1.65. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $413.20. The company has a 50 day moving average of $313.14 and a 200-day moving average of $270.22.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.13. The company had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. On average, sell-side analysts anticipate that Align Technology, Inc. will post 7.69 earnings per share for the current fiscal year.

Insider Transactions at Align Technology

In other news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Joseph Lacob sold 10,000 shares of the 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 sale, the director now owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Emory Wright sold 2,524 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders sold 27,524 shares of company stock valued at $8,403,924 in the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

About Align Technology

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.