Truist Financial Corp Buys 2,220 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Truist Financial Corp lifted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 24.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,165 shares of the medical equipment provider’s stock after acquiring an additional 2,220 shares during the quarter. Truist Financial Corp’s holdings in Align Technology were worth $3,059,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Motley Fool Asset Management LLC boosted its stake in shares of Align Technology by 8.6% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,110 shares of the medical equipment provider’s stock worth $578,000 after acquiring an additional 167 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Align Technology by 6.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,024 shares of the medical equipment provider’s stock worth $555,000 after buying an additional 131 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Align Technology during the 4th quarter valued at approximately $422,000. South Dakota Investment Council increased its stake in Align Technology by 412.5% in the 4th quarter. South Dakota Investment Council now owns 4,100 shares of the medical equipment provider’s stock worth $1,123,000 after acquiring an additional 3,300 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of Align Technology during the 4th quarter worth approximately $133,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their target price 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. Leerink Partnrs restated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Robert W. Baird lifted their price target on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Stifel Nicolaus upped their price objective on Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Finally, SVB Leerink began coverage on Align Technology in a report on Monday, February 26th. They issued a “market perform” rating and a $310.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $353.00.

Insider Buying and Selling

In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the transaction, the director now directly owns 131,994 shares in the company, valued at approximately $40,023,220.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is currently owned by insiders.

Align Technology Stock Down 0.3 %

ALGN stock opened at $286.52 on Wednesday. The firm has a market cap of $21.56 billion, a price-to-earnings ratio of 47.20, a PEG ratio of 5.29 and a beta of 1.66. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $413.20. The business’s fifty day simple moving average is $310.10 and its two-hundred day simple moving average is $271.70.

Align Technology 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.