Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 14.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,901 shares of the medical equipment provider's stock after purchasing an additional 14,030 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.15% of Align Technology worth $23,721,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. True Wealth Design LLC boosted its holdings in Align Technology by 10,700.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider's stock worth $27,000 after buying an additional 107 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Align Technology in the third quarter worth approximately $32,000. Picton Mahoney Asset Management increased its position in shares of Align Technology by 69.9% during the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock worth $30,000 after purchasing an additional 58 shares in the last quarter. Private Trust Co. NA raised its stake in Align Technology by 113.4% in 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 during the last quarter. Finally, Quarry LP lifted its holdings in Align Technology by 74.8% in the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider's stock valued at $56,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company's stock.

Remove Ads

Align Technology Stock Performance

Shares of NASDAQ ALGN traded down $8.45 during mid-day trading on Thursday, reaching $155.53. 1,070,708 shares of the company's stock were exchanged, compared to its average volume of 833,169. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 52-week low of $151.09 and a 52-week high of $331.64. The company's 50-day moving average is $189.66 and its 200-day moving average is $213.03.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced 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 net margin of 10.54% and a return on equity of 13.84%. As a group, equities analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ALGN shares. Wells Fargo & Company assumed coverage on shares of Align Technology in a report on Friday, February 14th. They set an "overweight" rating and a $255.00 target price for the company. Leerink Partners raised shares of Align Technology from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a research note on Thursday, February 6th. Evercore ISI upped their price target on Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Finally, Bank of America lifted their price objective on Align Technology from $200.00 to $206.00 and gave the stock an "underperform" rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $262.64.

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.