Meiji Yasuda Asset Management Co Ltd. Buys 691 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 7.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,725 shares of the medical equipment provider’s stock after purchasing an additional 691 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Align Technology were worth $2,028,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ALGN. True Wealth Design LLC lifted its stake in shares of Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 107 shares in the last quarter. Neo Ivy Capital Management bought a new position in Align Technology in the 3rd quarter valued at approximately $32,000. Picton Mahoney Asset Management boosted its stake in Align Technology by 69.9% during the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 58 shares during the last quarter. Private Trust Co. NA raised 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 purchasing an additional 93 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Align Technology by 74.8% during the third quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $235.00 price objective (down from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. Bank of America boosted their price objective on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Mizuho lowered their price target on Align Technology from $295.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Evercore ISI lifted their price objective on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and a consensus price target of $262.64.

Align Technology Trading Down 2.1 %

NASDAQ ALGN opened at $166.46 on Thursday. Align Technology, Inc. has a 12 month low of $158.13 and a 12 month high of $331.64. The stock has a market cap of $12.25 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 2.24 and a beta of 1.69. The company’s 50 day moving average is $196.12 and its two-hundred day moving average is $215.43.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 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%. Sell-side analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current 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.