The Manufacturers Life Insurance Company Has $22.73 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

The Manufacturers Life Insurance Company raised its holdings in shares of Align Technology, Inc. (NASDAQ:ALGNFree Report) by 9.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,944 shares of the medical equipment provider’s stock after acquiring an additional 7,237 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.11% of Align Technology worth $22,727,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Parnassus Investments LLC increased its stake in Align Technology by 11.3% in the 4th quarter. Parnassus Investments LLC now owns 396,603 shares of the medical equipment provider’s stock valued at $108,669,000 after buying an additional 40,406 shares during the period. Deepwater Asset Management LLC raised its holdings in shares of Align Technology by 46.8% during the fourth quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock worth $13,421,000 after acquiring an additional 15,608 shares in the last quarter. London & Capital Asset Management Ltd boosted its position in Align Technology by 7.1% during the fourth quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock valued at $15,899,000 after purchasing an additional 3,843 shares during the last quarter. Morgan Stanley grew its stake in Align Technology by 9.8% in the third quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock valued at $310,866,000 after purchasing an additional 90,581 shares in the last quarter. Finally, Truist Financial Corp increased its position in Align Technology by 24.8% in the 4th quarter. Truist Financial Corp now owns 11,165 shares of the medical equipment provider’s stock worth $3,059,000 after purchasing an additional 2,220 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ALGN shares. Piper Sandler reissued an “overweight” rating and issued a $375.00 price target (up previously from $355.00) on shares of Align Technology in a research note on Thursday, April 25th. Leerink Partnrs restated a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. Stifel Nicolaus increased their target price on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Morgan Stanley raised their target price on Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $353.00.

Read Our Latest Stock Analysis on Align Technology

Align Technology Stock Down 0.7 %

Shares of NASDAQ:ALGN opened at $255.54 on Friday. The business has a 50 day moving average price of $286.39 and a 200 day moving average price of $280.51. The company has a market cap of $19.24 billion, a price-to-earnings ratio of 42.10, a PEG ratio of 4.71 and a beta of 1.62. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $413.20.

Align Technology (NASDAQ:ALGNGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.08. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. The business had revenue of $997.43 million for the quarter, compared to the consensus estimate of $971.97 million. Analysts anticipate that Align Technology, Inc. will post 7.95 EPS for the current year.

About Align Technology

(Free Report)

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.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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