Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 55.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,230 shares of the medical equipment provider’s stock after purchasing an additional 23,263 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned 0.08% of Align Technology worth $11,347,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC increased its position in Align Technology by 31.3% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 168 shares of the medical equipment provider’s stock worth $47,000 after buying an additional 40 shares during the period. World Asset Management Inc grew its position in shares of Align Technology by 1.0% during the fourth quarter. World Asset Management Inc now owns 4,858 shares of the medical equipment provider’s stock worth $1,356,000 after acquiring an additional 47 shares during the last quarter. Grove Bank & Trust increased its holdings in shares of Align Technology by 4.1% in the 4th quarter. Grove Bank & Trust now owns 1,259 shares of the medical equipment provider’s stock worth $351,000 after acquiring an additional 50 shares during the period. Moser Wealth Advisors LLC lifted its position in Align Technology by 5.3% in the 1st quarter. Moser Wealth Advisors LLC now owns 990 shares of the medical equipment provider’s stock valued at $172,000 after purchasing an additional 50 shares during the last quarter. Finally, Cim LLC lifted its position in Align Technology by 2.3% in the 4th quarter. Cim LLC now owns 2,418 shares of the medical equipment provider’s stock valued at $675,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 85.17% of the company’s stock.
NASDAQ:ALGN traded up $7.78 during mid-day trading on Friday, reaching $243.74. 957,169 shares of the stock were exchanged, compared to its average volume of 1,265,345. The company has a current ratio of 1.73, a quick ratio of 1.60 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average price of $196.35 and a 200 day moving average price of $239.11. Align Technology, Inc. has a 1-year low of $127.88 and a 1-year high of $319.17. The firm has a market capitalization of $18.58 billion, a PE ratio of 10.22, a PEG ratio of 15.59 and a beta of 1.97.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, April 29th. The medical equipment provider reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.27). The business had revenue of $551.00 million for the quarter, compared to the consensus estimate of $557.54 million. Align Technology had a net margin of 78.42% and a return on equity of 107.18%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS. On average, sell-side analysts forecast that Align Technology, Inc. will post 1.41 earnings per share for the current year.
In related news, CFO John Morici sold 5,846 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $227.96, for a total value of $1,332,654.16. Following the completion of the transaction, the chief financial officer now owns 13,036 shares in the company, valued at approximately $2,971,686.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Vamsi Mohan Raj Pudipeddi sold 2,346 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $230.09, for a total value of $539,791.14. Following the completion of the transaction, the chief marketing officer now owns 1,246 shares of the company’s stock, valued at approximately $286,692.14. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
ALGN has been the topic of several analyst reports. Stephens dropped their price target on shares of Align Technology from $220.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 19th. They noted that the move was a valuation call. BidaskClub upgraded Align Technology from a “sell” rating to a “hold” rating in a research report on Thursday, April 30th. ValuEngine lowered Align Technology from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 30th. Piper Sandler decreased their price target on Align Technology from $275.00 to $258.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, Stifel Nicolaus lifted their price objective on shares of Align Technology from $230.00 to $275.00 and gave the company a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. Align Technology currently has a consensus rating of “Hold” and a consensus target price of $253.33.
Align Technology Profile
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.
See Also: Range Trading
Want to see what other hedge funds are holding ALGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Align Technology, Inc. (NASDAQ:ALGN).
Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.