Align Technology, Inc. (NASDAQ:ALGN) Stock Position Boosted by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 14.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its position in shares of Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 107 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Align Technology in the third quarter worth approximately $32,000. Picton Mahoney Asset Management boosted its stake in shares of Align Technology by 69.9% during the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 58 shares during the period. Private Trust Co. NA grew its stake in Align Technology by 113.4% in the fourth 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 in the last quarter. Finally, Quarry LP increased its holdings in Align Technology by 74.8% in the third quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 95 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Down 3.1 %

Shares of ALGN opened at $159.21 on Monday. The stock’s 50-day moving average price is $193.72 and its 200 day moving average price is $214.48. Align Technology, Inc. has a 12-month low of $157.57 and a 12-month high of $331.64. The firm has a market capitalization of $11.72 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) 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%. Equities research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Wall Street Analysts Forecast Growth

ALGN has been the subject of a number of analyst reports. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Evercore ISI boosted their price target on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Piper Sandler restated an “overweight” rating and issued a $235.00 target price (down from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. Morgan Stanley dropped their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.64.

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.