Sumitomo Mitsui DS Asset Management Company Ltd Acquires 105 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.6% during the 4th quarter, Holdings Channel reports. The fund owned 6,825 shares of the medical equipment provider’s stock after buying an additional 105 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Align Technology were worth $1,870,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Dfpg Investments LLC grew its holdings in Align Technology by 3.3% during the 4th quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock worth $340,000 after acquiring an additional 42 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in Align Technology by 2.7% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,694 shares of the medical equipment provider’s stock worth $517,000 after acquiring an additional 44 shares in the last quarter. Richard W. Paul & Associates LLC grew its holdings in Align Technology by 2.8% during the 4th quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider’s stock worth $457,000 after acquiring an additional 45 shares in the last quarter. Valley National Advisers Inc. lifted its position in shares of Align Technology by 29.7% during the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock valued at $65,000 after buying an additional 49 shares during the last quarter. Finally, Jag Capital Management LLC lifted its position in shares of Align Technology by 4.1% during the third quarter. Jag Capital Management LLC now owns 1,258 shares of the medical equipment provider’s stock valued at $384,000 after buying an additional 50 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was 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 ninety days, insiders sold 27,524 shares of company stock valued at $8,403,924. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on ALGN. The Goldman Sachs Group increased their price target on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. UBS Group increased their price target on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. SVB Leerink began coverage on shares of Align Technology in a research report on Monday, February 26th. They set a “market perform” rating and a $310.00 price target for the company. Finally, Piper Sandler increased their price target 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $344.45.

Align Technology Trading Up 0.6 %

ALGN opened at $313.78 on Thursday. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The firm has a market capitalization of $23.61 billion, a PE ratio of 53.91, a P/E/G ratio of 5.39 and a beta of 1.65. The firm has a 50 day moving average of $313.37 and a two-hundred day moving average of $270.52.

Align Technology (NASDAQ:ALGN) last posted 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. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The company had revenue of $997.43 million during the quarter, compared to analyst estimates of $971.97 million. As a group, analysts predict that Align Technology, Inc. will post 7.69 EPS for the current fiscal year.

Align Technology 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.