MassMutual Private Wealth & Trust FSB Grows Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

MassMutual Private Wealth & Trust FSB raised its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 174.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 631 shares of the medical equipment provider’s stock after buying an additional 401 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Align Technology were worth $132,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ALGN. True Wealth Design LLC increased its stake 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 purchasing an additional 107 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Align Technology in the 2nd quarter valued at $31,000. Quarry LP grew its position in shares of Align Technology by 53.0% in the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock valued at $31,000 after buying an additional 44 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Align Technology during the 3rd quarter worth $32,000. Finally, CVA Family Office LLC lifted its position in Align Technology by 85.2% in the third quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 69 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Robert W. Baird decreased their target price on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Jefferies Financial Group decreased their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $235.00 to $280.00 in a report on Monday, January 6th. Piper Sandler reduced their price objective on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Morgan Stanley lowered their price objective on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Align Technology has an average rating of “Moderate Buy” and a consensus target price of $267.45.

Align Technology Trading Up 1.2 %

Shares of ALGN stock opened at $234.89 on Friday. The company has a market cap of $17.53 billion, a PE ratio of 40.08, a P/E/G ratio of 5.00 and a beta of 1.67. The company’s fifty day simple moving average is $222.61 and its 200-day simple moving average is $227.87. Align Technology, Inc. has a 52 week low of $196.09 and a 52 week high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The company had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Equities research analysts expect that Align Technology, Inc. will post 7.48 EPS for the current fiscal year.

Align Technology Company 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.