US Bancorp DE Has $22.23 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

US Bancorp DE trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 5.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,422 shares of the medical equipment provider's stock after selling 5,102 shares during the period. US Bancorp DE owned approximately 0.12% of Align Technology worth $22,233,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ALGN. LRI Investments LLC bought a new position in Align Technology during the 1st quarter valued at $29,000. Cullen Frost Bankers Inc. boosted its stake in Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 94 shares in the last quarter. Rothschild Investment LLC acquired a new position in Align Technology during the second quarter worth about $26,000. Innealta Capital LLC bought a new stake in Align Technology in the second quarter worth about $26,000. Finally, Versant Capital Management Inc raised its position in Align Technology by 547.1% in the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider's stock worth $27,000 after acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company's stock.

Wall Street Analyst Weigh In

ALGN has been the topic of several recent research reports. StockNews.com raised shares of Align Technology from a "hold" rating to a "buy" rating in a research note on Thursday, September 19th. Morgan Stanley decreased their price target on shares of Align Technology from $310.00 to $280.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus cut their price objective on Align Technology from $285.00 to $275.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a research note on Thursday, October 24th. Finally, Robert W. Baird cut their target price on Align Technology from $325.00 to $276.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $276.38.

Align Technology Stock Performance

NASDAQ:ALGN traded up $3.55 during trading hours on Friday, hitting $208.58. 868,939 shares of the company's stock traded hands, compared to its average volume of 783,827. The stock's fifty day moving average price is $231.05 and its two-hundred day moving average price is $245.79. The firm has a market cap of $15.58 billion, a P/E ratio of 35.59, a P/E/G ratio of 4.98 and a beta of 1.64. Align Technology, Inc. has a twelve month low of $184.89 and a twelve month high of $335.40.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The business had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. During the same period in the prior year, the firm earned $1.62 earnings per share. The firm's revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts predict that Align Technology, Inc. will post 7.45 earnings per share for the current year.

Insider Activity

In other news, Director C Raymond Larkin, Jr. acquired 6,500 shares of Align Technology stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the transaction, the director now owns 28,247 shares in the company, valued at approximately $6,647,366.51. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

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.