UniSuper Management Pty Ltd Boosts Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

UniSuper Management Pty Ltd lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 23.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,543 shares of the medical equipment provider’s stock after acquiring an additional 1,817 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Align Technology were worth $1,990,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings 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 acquiring an additional 866,663 shares during the period. Geode Capital Management LLC grew its position in shares of Align Technology by 1.2% in the third 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 raised its stake in shares of 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 during the period. Ninety One UK Ltd lifted 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 purchasing an additional 43,524 shares in the last quarter. Finally, Meridiem Investment Management Ltd. boosted its stake in Align Technology by 63.7% in the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after purchasing an additional 297,472 shares during the period. 88.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ALGN has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Piper Sandler restated an “overweight” rating and set a $235.00 price target (down from $270.00) on shares of Align Technology in a research report on Tuesday, March 18th. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Evercore ISI lifted their price objective on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $262.64.

Align Technology Stock Performance

NASDAQ:ALGN opened at $159.21 on Monday. Align Technology, Inc. has a fifty-two week low of $157.57 and a fifty-two week high of $331.64. The business has a 50 day moving average price of $193.72 and a 200-day moving average price of $214.48. The firm has a market cap of $11.72 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results 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%. Research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current 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.