Mitsubishi UFJ Asset Management Co. Ltd. Purchases 13,978 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Align Technology, Inc. (NASDAQ:ALGN) by 19.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,679 shares of the medical equipment provider’s stock after purchasing an additional 13,978 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Align Technology were worth $28,424,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ALGN. Mather Group LLC. bought a new position in Align Technology in the first quarter valued at $26,000. Lindbrook Capital LLC grew its holdings in shares of Align Technology by 47.2% in the 1st quarter. Lindbrook Capital LLC now owns 187 shares of the medical equipment provider’s stock valued at $61,000 after acquiring an additional 60 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Align Technology by 97.2% during the fourth quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock worth $77,000 after acquiring an additional 138 shares in the last quarter. Scarborough Advisors LLC acquired a new position in Align Technology during the fourth quarter valued at approximately $86,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in Align Technology by 61.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 328 shares of the medical equipment provider’s stock valued at $90,000 after purchasing an additional 125 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ALGN shares. Morgan Stanley upped their price objective on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Stifel Nicolaus increased their price target on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Robert W. Baird boosted their price objective on shares of Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. OTR Global reiterated a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. Finally, UBS Group boosted their price target on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $346.50.

Align Technology Stock Up 0.0 %

Shares of ALGN traded up $0.08 during midday trading on Thursday, reaching $250.66. 988,017 shares of the stock were exchanged, compared to its average volume of 764,445. The stock’s 50 day simple moving average is $253.73 and its 200 day simple moving average is $281.87. The company has a market cap of $18.87 billion, a P/E ratio of 42.14, a PEG ratio of 4.58 and a beta of 1.66. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $413.20.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.08. The business had revenue of $997.43 million for the quarter, compared to analyst estimates of $971.97 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. As a group, analysts predict that Align Technology, Inc. will post 7.87 earnings per share for the current year.

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.