Resona Asset Management Co. Ltd. Grows Stake in Align Technology, Inc. $ALGN

Resona Asset Management Co. Ltd. lifted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 48.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 469,547 shares of the medical equipment provider’s stock after buying an additional 154,029 shares during the period. Resona Asset Management Co. Ltd. owned approximately 0.65% of Align Technology worth $58,977,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Atria Investments Inc lifted its position in Align Technology by 4.9% during the 2nd quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock worth $298,000 after acquiring an additional 74 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Align Technology by 5.7% during the second quarter. IFP Advisors Inc now owns 1,427 shares of the medical equipment provider’s stock valued at $270,000 after purchasing an additional 77 shares during the period. Rothschild Investment LLC lifted its position in shares of Align Technology by 140.3% during the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 87 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Align Technology by 42.2% in the second quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider’s stock valued at $59,000 after purchasing an additional 92 shares during the period. Finally, Royal London Asset Management Ltd. grew its holdings in Align Technology by 0.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 31,629 shares of the medical equipment provider’s stock valued at $5,988,000 after purchasing an additional 93 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Down 0.1%

Shares of Align Technology stock opened at $168.73 on Friday. The business has a 50-day moving average price of $157.96 and a 200 day moving average price of $150.75. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $234.39. The firm has a market cap of $12.11 billion, a P/E ratio of 32.70, a P/E/G ratio of 1.90 and a beta of 1.83.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 EPS for the quarter, topping the consensus estimate of $2.38 by $0.23. The company had revenue of $995.69 million during the quarter, compared to analyst estimates of $980.75 million. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.35 EPS. As a group, equities research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Weiss Ratings upgraded Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 16th. Mizuho raised their price objective on Align Technology from $170.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays started coverage on Align Technology in a report on Monday, December 8th. They set an “equal weight” rating and a $170.00 price objective on the stock. Finally, Zacks Research upgraded Align Technology from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $176.82.

Align Technology Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.