Align Technology, Inc. (NASDAQ:ALGN) Stake Reduced by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,181 shares of the medical equipment provider’s stock after selling 87 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Align Technology were worth $555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in ALGN. Cullen Frost Bankers Inc. boosted its holdings in Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 94 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Align Technology during the 2nd quarter valued at $26,000. Rothschild Investment LLC bought a new stake in shares of Align Technology during the 2nd quarter worth $26,000. Versant Capital Management Inc grew its holdings in shares of Align Technology by 547.1% in the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 93 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Align Technology during the first quarter worth $29,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ALGN shares. Stifel Nicolaus reduced their price objective on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Piper Sandler lowered 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 report on Thursday, October 24th. Finally, Evercore ISI reduced their target price on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $276.38.

Align Technology Stock Up 0.9 %

Align Technology stock opened at $223.69 on Friday. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40. The stock has a market cap of $16.70 billion, a P/E ratio of 38.17, a P/E/G ratio of 5.57 and a beta of 1.65. The company’s fifty day simple moving average is $228.85 and its 200-day simple moving average is $240.23.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The firm had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. During the same quarter in the previous year, the company posted $1.62 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts expect that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

About Align Technology

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.