Tokio Marine Asset Management Co. Ltd. Has $555,000 Stake in Align Technology, Inc. (NASDAQ:ALGN)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,024 shares of the medical equipment provider’s stock after purchasing an additional 131 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Align Technology were worth $555,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Huntington National Bank boosted its holdings in shares of Align Technology by 94.9% during the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 56 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of Align Technology during the 3rd quarter valued at $61,000. Orion Capital Management LLC acquired a new stake in shares of Align Technology during the 3rd quarter valued at $61,000. Operose Advisors LLC acquired a new stake in shares of Align Technology during the 3rd quarter valued at $63,000. Finally, Covestor Ltd boosted its holdings in shares of Align Technology by 379.5% during the 3rd quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock valued at $64,000 after acquiring an additional 167 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ALGN. Morgan Stanley raised their price objective on Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday. Robert W. Baird raised their target price on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday. Stifel Nicolaus raised their target price on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. The Goldman Sachs Group raised their target price on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $375.00 target price (up from $355.00) on shares of Align Technology in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $353.00.

Align Technology Trading Down 0.5 %

ALGN stock opened at $309.02 on Friday. The stock has a 50-day moving average price of $313.38 and a 200-day moving average price of $270.87. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The firm has a market cap of $23.25 billion, a PE ratio of 50.91, a price-to-earnings-growth ratio of 5.56 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. The firm had revenue of $956.73 million during the quarter, compared to analyst estimates of $928.57 million. On average, analysts forecast that Align Technology, Inc. will post 7.69 earnings per share for the current year.

Insider Activity at Align Technology

In related news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Align Technology news, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the transaction, the director now owns 146,994 shares in the company, valued at approximately $46,010,591.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders sold 27,524 shares of company stock valued at $8,403,924 in the last three months. Corporate insiders own 0.64% of the company’s stock.

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.