Sumitomo Mitsui DS Asset Management Company Ltd Boosts Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Align Technology, Inc. (NASDAQ:ALGN) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,825 shares of the medical equipment provider’s stock after purchasing an additional 105 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Align Technology were worth $1,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ALGN. Capital Investment Advisors LLC lifted its stake in Align Technology by 22.3% in the 3rd quarter. Capital Investment Advisors LLC now owns 1,180 shares of the medical equipment provider’s stock worth $360,000 after purchasing an additional 215 shares in the last quarter. Flagship Harbor Advisors LLC lifted its stake in Align Technology by 2.7% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,694 shares of the medical equipment provider’s stock worth $517,000 after purchasing an additional 44 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in Align Technology by 3.1% in the 3rd quarter. DAVENPORT & Co LLC now owns 2,172 shares of the medical equipment provider’s stock worth $663,000 after purchasing an additional 66 shares in the last quarter. ARK Investment Management LLC lifted its stake in Align Technology by 7.5% in the 3rd quarter. ARK Investment Management LLC now owns 8,506 shares of the medical equipment provider’s stock worth $2,597,000 after purchasing an additional 591 shares in the last quarter. Finally, Czech National Bank lifted its stake in Align Technology by 47.7% in the 3rd quarter. Czech National Bank now owns 12,441 shares of the medical equipment provider’s stock worth $3,798,000 after purchasing an additional 4,016 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Joseph Lacob sold 15,000 shares of Align Technology stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the sale, the director now owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,524 shares of company stock valued at $8,403,924. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Leerink Partnrs restated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Piper Sandler raised their price objective on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. The Goldman Sachs Group increased their target price on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd. UBS Group increased their target price on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Finally, SVB Leerink began coverage on shares of Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $344.45.

Align Technology Stock Up 0.6 %

Shares of Align Technology stock opened at $313.78 on Thursday. The firm has a market cap of $23.61 billion, a PE ratio of 53.91, a price-to-earnings-growth ratio of 5.39 and a beta of 1.65. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The company’s fifty day simple moving average is $313.37 and its two-hundred day simple moving average is $270.52.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share (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 11.52% and a return on equity of 13.88%. As a group, sell-side analysts expect that Align Technology, Inc. will post 7.69 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.