Mitsubishi UFJ Trust & Banking Corp Increases Position in Align Technology, Inc. (ALGN)

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,299 shares of the medical equipment provider’s stock after acquiring an additional 3,507 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.19% of Align Technology worth $28,928,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Buckingham Asset Management LLC grew its stake in Align Technology by 3.3% during the 2nd quarter. Buckingham Asset Management LLC now owns 1,861 shares of the medical equipment provider’s stock valued at $279,000 after acquiring an additional 59 shares in the last quarter. BB&T Securities LLC grew its stake in Align Technology by 3.5% during the 2nd quarter. BB&T Securities LLC now owns 2,757 shares of the medical equipment provider’s stock valued at $413,000 after acquiring an additional 94 shares in the last quarter. Wrapmanager Inc. grew its stake in Align Technology by 2.6% during the 2nd quarter. Wrapmanager Inc. now owns 3,835 shares of the medical equipment provider’s stock valued at $576,000 after acquiring an additional 99 shares in the last quarter. Wesbanco Bank Inc. grew its stake in Align Technology by 0.9% during the 2nd quarter. Wesbanco Bank Inc. now owns 11,054 shares of the medical equipment provider’s stock valued at $1,659,000 after acquiring an additional 100 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. grew its stake in Align Technology by 13.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock valued at $137,000 after acquiring an additional 105 shares in the last quarter. 83.91% of the stock is owned by institutional investors.

Shares of Align Technology, Inc. (NASDAQ:ALGN) opened at $227.36 on Wednesday. Align Technology, Inc. has a one year low of $88.56 and a one year high of $266.41. The firm has a market cap of $20,370.75, a P/E ratio of 75.17, a PEG ratio of 2.43 and a beta of 1.43.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.19. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The business had revenue of $385.30 million during the quarter, compared to analysts’ expectations of $359.80 million. During the same quarter in the prior year, the company posted $0.63 EPS. The business’s revenue for the quarter was up 38.3% on a year-over-year basis. analysts anticipate that Align Technology, Inc. will post 3.62 earnings per share for the current year.

Several brokerages recently issued reports on ALGN. Robert W. Baird reaffirmed a “buy” rating and set a $290.00 price objective on shares of Align Technology in a research note on Wednesday, November 29th. Credit Suisse Group reaffirmed an “outperform” rating and set a $276.00 price objective (up previously from $261.00) on shares of Align Technology in a research note on Tuesday, November 28th. Morgan Stanley upped their price objective on shares of Align Technology from $257.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, November 27th. Stifel Nicolaus upped their price objective on shares of Align Technology from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, November 21st. Finally, Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price objective for the company in a research note on Monday, October 30th. Eleven equities research analysts have rated the stock with a buy rating, Align Technology presently has an average rating of “Buy” and a consensus price target of $235.55.

In other news, CMO Raphael Pascaud sold 5,400 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $241.88, for a total value of $1,306,152.00. Following the completion of the sale, the chief marketing officer now owns 22,228 shares of the company’s stock, valued at approximately $5,376,508.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John Morici sold 1,500 shares of the stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $255.00, for a total transaction of $382,500.00. Following the completion of the sale, the chief financial officer now directly owns 1,544 shares of the company’s stock, valued at approximately $393,720. The disclosure for this sale can be found here. In the last three months, insiders sold 52,849 shares of company stock valued at $13,494,348. Corporate insiders own 1.60% of the company’s stock.

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Align Technology Company Profile

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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