Sumitomo Mitsui DS Asset Management Company Ltd Has $1.52 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,271 shares of the medical equipment provider’s stock after acquiring 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.

Several other large investors have also added to or reduced their stakes in ALGN. Wellington Management Group LLP lifted its holdings in shares of Align Technology by 49.0% in the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after purchasing an additional 866,663 shares in the last quarter. Geode Capital Management LLC raised its position in Align Technology by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock valued at $443,810,000 after buying an additional 21,605 shares during the last quarter. FMR LLC lifted its stake in Align Technology by 43.0% during the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after acquiring an additional 367,508 shares in the last quarter. Ninety One UK Ltd boosted its holdings in Align Technology by 3.7% during the 4th quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock worth $254,508,000 after acquiring an additional 43,524 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its stake in shares of Align Technology by 6.4% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 753,026 shares of the medical equipment provider’s stock worth $191,510,000 after acquiring an additional 45,484 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ALGN shares. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and upped their target price for the company from $235.00 to $280.00 in a report on Monday, January 6th. Morgan Stanley dropped their price target on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Stifel Nicolaus reduced their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.40.

Align Technology Price Performance

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

Align Technology (NASDAQ:ALGN) last released 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%. As a group, equities analysts expect that Align Technology, Inc. will post 8.09 EPS for the current fiscal year.

About Align Technology

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.