First Hawaiian Bank Has $166,000 Stake in Align Technology, Inc. (NASDAQ:ALGN)

First Hawaiian Bank lessened its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 79.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 581 shares of the medical equipment provider’s stock after selling 2,198 shares during the quarter. First Hawaiian Bank’s holdings in Align Technology were worth $166,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Courier Capital LLC lifted its holdings in shares of Align Technology by 0.9% in the 4th quarter. Courier Capital LLC now owns 5,605 shares of the medical equipment provider’s stock worth $1,174,000 after purchasing an additional 50 shares in the last quarter. Captrust Financial Advisors lifted its stake in Align Technology by 67.6% during the 4th quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Gemmer Asset Management LLC lifted its stake in Align Technology by 57.3% during the 4th quarter. Gemmer Asset Management LLC now owns 140 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 51 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Align Technology by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 3,152 shares of the medical equipment provider’s stock valued at $660,000 after acquiring an additional 55 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its stake in Align Technology by 6.6% during the 4th quarter. Wedbush Securities Inc. now owns 968 shares of the medical equipment provider’s stock valued at $203,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 82.93% of the company’s stock.

In other Align Technology news, Director Yuval Shaked sold 400 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $255.52, for a total value of $102,208.00. Following the completion of the sale, the director now owns 24 shares in the company, valued at $6,132.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Lacob sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $258.31, for a total value of $5,166,200.00. The disclosure for this sale can be found here. Insiders sold 21,650 shares of company stock valued at $5,586,633 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

ALGN has been the topic of several recent analyst reports. ValuEngine cut Align Technology from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. Zacks Investment Research cut Align Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. OTR Global cut Align Technology to a “positive” rating in a research note on Thursday, March 14th. BidaskClub upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Finally, Barclays set a $325.00 price objective on Align Technology and gave the stock a “buy” rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $340.07.

Shares of NASDAQ ALGN traded up $5.20 during midday trading on Friday, hitting $331.08. 885,471 shares of the company’s stock were exchanged, compared to its average volume of 1,405,639. The firm has a market capitalization of $26.48 billion, a price-to-earnings ratio of 67.29, a PEG ratio of 2.60 and a beta of 2.15. Align Technology, Inc. has a 12-month low of $177.93 and a 12-month high of $398.88.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.06. Align Technology had a return on equity of 30.58% and a net margin of 18.10%. The company had revenue of $549.00 million during the quarter, compared to the consensus estimate of $532.16 million. During the same quarter in the previous year, the company posted $1.17 EPS. Align Technology’s quarterly revenue was up 25.7% compared to the same quarter last year. As a group, analysts anticipate that Align Technology, Inc. will post 5.33 EPS for the current year.

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Align Technology Company Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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