Tokio Marine Asset Management Co. Ltd. Boosts Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 7.5% in the fourth quarter, HoldingsChannel reports. The fund owned 2,344 shares of the medical equipment provider’s stock after purchasing an additional 163 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Align Technology were worth $489,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in Align Technology by 49.0% during the 3rd 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 increased its stake in Align Technology by 1.2% during 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 purchasing an additional 21,605 shares in the last quarter. FMR LLC increased 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 purchasing an additional 367,508 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its stake in Align Technology by 6.4% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 753,026 shares of the medical equipment provider’s stock valued at $191,510,000 after purchasing an additional 45,484 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Align Technology by 96.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock valued at $171,493,000 after purchasing an additional 330,807 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $214.75 on Wednesday. The company’s fifty day moving average price is $222.45 and its 200 day moving average price is $226.48. Align Technology, Inc. has a 1 year low of $196.09 and a 1 year high of $335.40. The company has a market capitalization of $16.03 billion, a PE ratio of 36.65, a price-to-earnings-growth ratio of 4.80 and a beta of 1.67.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ALGN shares. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Evercore ISI cut their price objective on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Piper Sandler cut their price objective on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Bank of America increased their price objective on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $271.70.

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.