Align Technology, Inc. (NASDAQ:ALGN) Shares Bought by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB grew its stake in Align Technology, Inc. (NASDAQ:ALGN) by 174.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 631 shares of the medical equipment provider’s stock after buying an additional 401 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Align Technology were worth $132,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in Align Technology by 49.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after purchasing an additional 866,663 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Align Technology by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock valued at $443,810,000 after purchasing an additional 21,605 shares during the period. FMR LLC boosted its holdings in Align Technology by 43.0% during the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after buying an additional 367,508 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in Align Technology by 6.4% during the third quarter. Disciplined Growth Investors Inc. MN now owns 753,026 shares of the medical equipment provider’s stock valued at $191,510,000 after buying an additional 45,484 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in Align Technology by 96.3% in the third quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock valued at $171,493,000 after buying an additional 330,807 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

Align Technology stock opened at $234.89 on Friday. The company has a market capitalization of $17.53 billion, a PE ratio of 40.08, a price-to-earnings-growth ratio of 5.00 and a beta of 1.67. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The firm has a 50 day moving average price of $222.61 and a 200 day moving average price of $227.87.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business had revenue of $977.87 million during the quarter, compared to analysts’ expectations of $990.05 million. During the same period in the previous year, the firm posted $1.62 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts forecast that Align Technology, Inc. will post 7.48 earnings per share for the current year.

Analyst Ratings Changes

ALGN has been the topic of a number of analyst reports. Jefferies Financial Group dropped their target price on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Robert W. Baird cut their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Piper Sandler dropped their target price on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.45.

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.