Country Trust Bank Has $20.32 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Country Trust Bank reduced its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 97,429 shares of the medical equipment provider’s stock after selling 6,109 shares during the quarter. Country Trust Bank’s holdings in Align Technology were worth $20,315,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. True Wealth Design LLC lifted its holdings in Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 107 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Align Technology during the 3rd quarter worth about $32,000. Quarry LP boosted its holdings in shares of Align Technology by 53.0% during the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 44 shares during the period. CVA Family Office LLC raised its holdings in Align Technology by 85.2% in the 3rd quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 69 shares during the period. Finally, Mather Group LLC. lifted its position in Align Technology by 51.6% during the third quarter. Mather Group LLC. now owns 185 shares of the medical equipment provider’s stock worth $47,000 after acquiring an additional 63 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ALGN shares. Evercore ISI lowered their target price on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Bank of America lifted their target price on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Mizuho began coverage on shares of Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price target on the stock. Robert W. Baird cut their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $235.00 to $280.00 in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $267.45.

Align Technology Stock Performance

ALGN stock opened at $225.36 on Friday. The company has a market capitalization of $16.82 billion, a P/E ratio of 38.46, a PEG ratio of 4.92 and a beta of 1.67. The company has a fifty day moving average price of $223.08 and a 200-day moving average price of $227.19. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40.

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.