Asset Management One Co. Ltd. Boosts Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Asset Management One Co. Ltd. lifted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 0.9% during the fourth quarter, Holdings Channel reports. The fund owned 27,615 shares of the medical equipment provider’s stock after acquiring an additional 246 shares during the period. Asset Management One Co. Ltd.’s holdings in Align Technology were worth $5,839,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ALGN. True Wealth Design LLC increased its position in shares of Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 107 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Align Technology during the third quarter worth $32,000. Versant Capital Management Inc increased its position in shares of Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 157 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of Align Technology during the fourth quarter worth $52,000. Finally, Quarry LP increased its position in shares of Align Technology by 74.8% during the third quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 95 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of ALGN opened at $202.24 on Wednesday. The firm has a 50 day simple moving average of $218.16 and a 200-day simple moving average of $224.71. Align Technology, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40. The stock has a market cap of $15.10 billion, a price-to-earnings ratio of 36.05, a price-to-earnings-growth ratio of 4.79 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data 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 return on equity of 13.84% and a net margin of 10.54%. On average, equities analysts expect that Align Technology, Inc. will post 8.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Stifel Nicolaus lowered their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Jefferies Financial Group decreased their target price on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Mizuho assumed coverage on shares of Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price for the company. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Finally, Morgan Stanley cut their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Align Technology has an average rating of “Moderate Buy” and an average price target of $269.91.

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.