Bank of Montreal Can Trims Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Bank of Montreal Can lessened its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 48.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,197 shares of the medical equipment provider's stock after selling 67,995 shares during the period. Bank of Montreal Can owned 0.10% of Align Technology worth $15,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management raised its stake in Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock valued at $30,000 after buying an additional 58 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Align Technology during the 4th quarter worth approximately $35,000. Private Trust Co. NA increased its stake in Align Technology by 113.4% during the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 93 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock worth $48,000 after buying an additional 157 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Align Technology during the fourth quarter valued at $52,000. 88.43% of the stock is currently owned by institutional investors.

Align Technology Trading Up 2.5 %

ALGN traded up $4.23 on Friday, hitting $171.41. 816,188 shares of the company's stock were exchanged, compared to its average volume of 874,117. Align Technology, Inc. has a fifty-two week low of $141.74 and a fifty-two week high of $327.49. The stock has a market cap of $12.55 billion, a price-to-earnings ratio of 30.55, a P/E/G ratio of 2.24 and a beta of 1.73. The firm has a 50-day moving average price of $173.49 and a 200-day moving average price of $205.29.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts' consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. On average, equities analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ALGN shares. Piper Sandler reissued an "overweight" rating and issued a $235.00 price objective (down from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. Jefferies Financial Group cut their price objective on shares of Align Technology from $285.00 to $260.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. Mizuho lowered their price target on shares of Align Technology from $295.00 to $250.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. Leerink Partnrs upgraded Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company assumed coverage on Align Technology in a report on Friday, February 14th. They set an "overweight" rating and a $255.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $256.90.

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.