Align Technology, Inc. (NASDAQ:ALGN) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,079 shares of the medical equipment provider’s stock after purchasing an additional 136 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Align Technology were worth $1,800,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Achmea Investment Management B.V. grew its stake in shares of Align Technology by 3.4% in the second quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider’s stock worth $2,495,000 after acquiring an additional 339 shares in the last quarter. Tidal Investments LLC grew its stake in Align Technology by 122.9% during the 1st quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock worth $1,445,000 after purchasing an additional 2,430 shares in the last quarter. Norden Group LLC increased its holdings in Align Technology by 3,647.7% during the 1st quarter. Norden Group LLC now owns 36,540 shares of the medical equipment provider’s stock worth $11,982,000 after purchasing an additional 35,565 shares during the period. Swedbank AB raised its position in Align Technology by 2.0% in the 2nd quarter. Swedbank AB now owns 299,115 shares of the medical equipment provider’s stock valued at $72,215,000 after purchasing an additional 6,005 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Align Technology in the 1st quarter valued at about $2,006,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Buying and Selling at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. bought 6,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the purchase, the director now owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ALGN. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Piper Sandler reduced their price objective on shares of Align Technology from $315.00 to $285.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Stifel Nicolaus lowered their target price on shares of Align Technology from $350.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Evercore ISI lowered their price objective on Align Technology from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Finally, Needham & Company LLC initiated coverage on Align Technology in a research report on Thursday, October 10th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $291.25.

Align Technology Stock Down 1.4 %

ALGN opened at $216.56 on Tuesday. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $335.40. The business’s 50 day moving average is $234.63 and its two-hundred day moving average is $252.02. The firm has a market cap of $16.30 billion, a price-to-earnings ratio of 35.68, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company posted $1.73 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts expect that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

About Align Technology

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.