Sumitomo Mitsui DS Asset Management Company Ltd Purchases 192 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 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,271 shares of the medical equipment provider’s stock after purchasing an additional 192 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Align Technology were worth $1,516,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. True Wealth Design LLC boosted its position in 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 valued at $27,000 after buying an additional 107 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Align Technology in the 3rd quarter valued at $32,000. Versant Capital Management Inc boosted its holdings in shares of Align Technology by 212.2% during the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after acquiring an additional 157 shares in the last quarter. Quarry LP grew its position in Align Technology by 74.8% during the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 95 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Align Technology in the 3rd quarter worth about $77,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ALGN shares. Piper Sandler reduced their target price on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Morgan Stanley reduced their price target on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Robert W. Baird decreased their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Bank of America boosted their price target on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $271.40.

Align Technology Stock Down 0.7 %

Shares of NASDAQ ALGN opened at $210.52 on Wednesday. The firm has a market cap of $15.72 billion, a PE ratio of 37.53, a P/E/G ratio of 4.79 and a beta of 1.67. The company’s fifty day simple moving average is $220.81 and its 200 day simple moving average is $225.42. Align Technology, Inc. has a 12-month low of $196.09 and a 12-month high of $335.40.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. On average, equities analysts predict that Align Technology, Inc. will post 8.09 earnings per share for the current 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.