UniSuper Management Pty Ltd Has $1.99 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

UniSuper Management Pty Ltd grew its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 23.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,543 shares of the medical equipment provider's stock after acquiring an additional 1,817 shares during the quarter. UniSuper Management Pty Ltd's holdings in Align Technology were worth $1,990,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Align Technology by 14.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 113,901 shares of the medical equipment provider's stock worth $23,721,000 after acquiring an additional 14,030 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Align Technology by 12.7% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,966 shares of the medical equipment provider's stock worth $7,499,000 after purchasing an additional 4,065 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its stake in Align Technology by 7.6% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,725 shares of the medical equipment provider's stock valued at $2,028,000 after purchasing an additional 691 shares in the last quarter. EFG Asset Management North America Corp. lifted its position in Align Technology by 6.7% during the fourth quarter. EFG Asset Management North America Corp. now owns 15,411 shares of the medical equipment provider's stock worth $3,214,000 after purchasing an additional 966 shares during the period. Finally, Stevens Capital Management LP acquired a new stake in Align Technology during the fourth quarter worth about $470,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

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Align Technology Trading Down 5.0 %

NASDAQ:ALGN traded down $8.18 during mid-day trading on Thursday, hitting $155.80. 1,115,562 shares of the company's stock were exchanged, compared to its average volume of 833,369. Align Technology, Inc. has a fifty-two week low of $151.09 and a fifty-two week high of $331.64. The company has a 50 day simple moving average of $189.66 and a 200-day simple moving average of $213.03. The firm has a market capitalization of $11.47 billion, a P/E ratio of 27.77, a PEG ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. As a group, analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Jefferies Financial Group cut their target price on Align Technology from $285.00 to $260.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Leerink Partnrs upgraded Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Piper Sandler restated an "overweight" rating and set a $235.00 price objective (down from $270.00) on shares of Align Technology in a research report on Tuesday, March 18th. Finally, Leerink Partners upgraded Align Technology from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $235.00 to $280.00 in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.