Mitsubishi UFJ Trust & Banking Corp Has $7.50 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Mitsubishi UFJ Trust & Banking Corp boosted its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 12.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,966 shares of the medical equipment provider's stock after buying an additional 4,065 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Align Technology were worth $7,499,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ALGN. Nordea Investment Management AB lifted its stake in Align Technology by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider's stock valued at $56,870,000 after acquiring an additional 9,139 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Align Technology by 119.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider's stock valued at $35,368,000 after purchasing an additional 92,407 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Align Technology by 25.7% in the 3rd quarter. National Bank of Canada FI now owns 40,826 shares of the medical equipment provider's stock valued at $10,383,000 after purchasing an additional 8,338 shares during the last quarter. Swedbank AB boosted its holdings in Align Technology by 25.0% in the fourth quarter. Swedbank AB now owns 486,267 shares of the medical equipment provider's stock worth $101,392,000 after purchasing an additional 97,152 shares in the last quarter. Finally, Principal Securities Inc. boosted its holdings in Align Technology by 34.5% in the fourth quarter. Principal Securities Inc. now owns 1,881 shares of the medical equipment provider's stock worth $392,000 after purchasing an additional 483 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company's stock.

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Analyst Ratings Changes

A number of analysts have weighed in on the company. Mizuho reduced their price target on Align Technology from $295.00 to $250.00 and set an "outperform" rating for the company in a research report on Tuesday, March 25th. Leerink Partners raised Align Technology from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a report on Thursday, February 6th. Evercore ISI boosted their price objective on shares of Align Technology from $240.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $235.00 target price (down from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $262.64.

Align Technology Stock Down 5.2 %

NASDAQ ALGN traded down $8.45 during midday trading on Thursday, hitting $155.53. The company had a trading volume of 1,070,708 shares, compared to its average volume of 833,148. The firm has a fifty day simple moving average of $189.66 and a two-hundred day simple moving average of $213.03. The stock has a market cap of $11.45 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a fifty-two week low of $151.09 and a fifty-two week high of $331.64.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing the consensus estimate 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 year.

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.