Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Raises Holdings in Align Technology, Inc. (ALGN)
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 40.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,523 shares of the medical equipment provider’s stock after purchasing an additional 6,187 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Align Technology were worth $4,009,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. purchased a new position in shares of Align Technology during the third quarter worth about $107,000. CENTRAL TRUST Co grew its holdings in shares of Align Technology by 128.5% during the second quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock worth $105,000 after purchasing an additional 392 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Align Technology during the second quarter worth about $104,000. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Align Technology by 13.0% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock worth $137,000 after purchasing an additional 105 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new position in shares of Align Technology during the second quarter worth about $148,000. 81.16% of the stock is currently owned by institutional investors.
ALGN has been the topic of several research reports. Robert W. Baird set a $208.00 price objective on Align Technology and gave the stock a “buy” rating in a report on Wednesday, October 18th. Northcoast Research reissued a “buy” rating and set a $230.00 price target (up previously from $200.00) on shares of Align Technology in a report on Tuesday, October 10th. Piper Jaffray Companies reissued a “buy” rating and set a $176.00 price target on shares of Align Technology in a report on Friday, July 28th. Bank of America Corporation raised Align Technology from a “neutral” rating to a “buy” rating and raised their price target for the stock from $175.00 to $193.00 in a report on Friday, July 28th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $205.00 price objective (up previously from $200.00) on shares of Align Technology in a research report on Monday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, Align Technology presently has a consensus rating of “Buy” and an average price target of $214.45.
Align Technology, Inc. (NASDAQ ALGN) opened at $247.11 on Wednesday. Align Technology, Inc. has a 12 month low of $86.38 and a 12 month high of $246.83. The firm has a market cap of $19,603.45, a P/E ratio of 72.34, a PEG ratio of 2.38 and a beta of 1.42.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.19. The business had revenue of $385.30 million during the quarter, compared to analysts’ expectations of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The company’s revenue was up 38.3% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. analysts anticipate that Align Technology, Inc. will post 3.56 EPS for the current year.
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In other Align Technology news, CMO Raphael Pascaud sold 5,400 shares of Align Technology 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 directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Greg J. Santora sold 7,700 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total transaction of $1,839,915.00. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
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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