Meiji Yasuda Asset Management Co Ltd. Has $1.46 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Meiji Yasuda Asset Management Co Ltd. trimmed its holdings in Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,041 shares of the medical equipment provider’s stock after selling 147 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Align Technology were worth $1,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALGN. Cullen Frost Bankers Inc. increased its position in Align Technology by 188.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 144 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 94 shares in the last quarter. MCF Advisors LLC increased its position in Align Technology by 2,090.0% in the 3rd quarter. MCF Advisors LLC now owns 219 shares of the medical equipment provider’s stock valued at $45,000 after buying an additional 209 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in Align Technology by 27.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 224 shares of the medical equipment provider’s stock valued at $46,000 after buying an additional 48 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in Align Technology in the 3rd quarter valued at about $47,000. Finally, Alta Advisers Ltd bought a new stake in Align Technology during the 3rd quarter worth approximately $62,000. 84.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Align Technology

In other news, CEO Joseph M. Hogan bought 2,928 shares of the company’s stock in a transaction dated Wednesday, February 8th. The stock was bought at an average cost of $341.50 per share, for a total transaction of $999,912.00. Following the completion of the acquisition, the chief executive officer now owns 188,417 shares in the company, valued at approximately $64,344,405.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Joseph M. Hogan purchased 2,928 shares of the company’s stock in a transaction dated Wednesday, February 8th. The shares were purchased at an average cost of $341.50 per share, with a total value of $999,912.00. Following the transaction, the chief executive officer now directly owns 188,417 shares in the company, valued at approximately $64,344,405.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CFO John Morici purchased 587 shares of the company’s stock in a transaction dated Wednesday, February 8th. The stock was bought at an average cost of $341.84 per share, for a total transaction of $200,660.08. Following the completion of the transaction, the chief financial officer now owns 8,204 shares in the company, valued at $2,804,455.36. The disclosure for this purchase can be found here. 0.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. The Goldman Sachs Group raised Align Technology from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $165.00 to $307.00 in a report on Thursday, February 2nd. Robert W. Baird boosted their target price on Align Technology from $260.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. Stifel Nicolaus boosted their target price on Align Technology from $265.00 to $375.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. Piper Sandler boosted their target price on Align Technology from $255.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Finally, Evercore ISI upped their price objective on Align Technology from $230.00 to $375.00 and gave the company an “outperform” rating in a research note on Thursday, February 2nd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $358.78.

Align Technology Trading Up 1.7 %

Align Technology stock opened at $320.76 on Wednesday. The firm has a 50-day moving average of $290.65 and a 200-day moving average of $238.86. The firm has a market cap of $24.57 billion, a P/E ratio of 69.58, a P/E/G ratio of 3.00 and a beta of 1.60. Align Technology, Inc. has a 1-year low of $172.05 and a 1-year high of $461.79.

About Align Technology

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Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of Invisalign full, teen, and assist products, and Vivera retainers for treating malocclusion.