Mitsubishi UFJ Trust & Banking Corp Acquires 4,065 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 12.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 35,966 shares of the medical equipment provider’s stock after purchasing an additional 4,065 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Align Technology were worth $7,499,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ALGN. True Wealth Design LLC grew its position in Align Technology by 10,700.0% during the 3rd 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 last quarter. Neo Ivy Capital Management purchased a new stake in shares of Align Technology during the third quarter valued at approximately $32,000. Picton Mahoney Asset Management grew its holdings in shares of Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 58 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Align Technology by 113.4% in the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 93 shares during the period. Finally, Quarry LP raised its holdings in Align Technology by 74.8% during the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Wells Fargo & Company assumed coverage on Align Technology in a report on Friday, February 14th. They issued an “overweight” rating and a $255.00 price objective for the company. Jefferies Financial Group decreased their target price on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Finally, Morgan Stanley dropped their price target on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and an average price target of $262.64.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $159.21 on Monday. Align Technology, Inc. has a 1 year low of $157.57 and a 1 year high of $331.64. The firm has a 50-day moving average of $193.72 and a 200 day moving average of $214.48. The stock has a market cap of $11.72 billion, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. Research analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

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.