Factory Mutual Insurance Co. Grows Position in Align Technology, Inc. $ALGN

Factory Mutual Insurance Co. lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,293 shares of the medical equipment provider’s stock after purchasing an additional 20,000 shares during the quarter. Factory Mutual Insurance Co. owned 0.33% of Align Technology worth $30,089,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Align Technology by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock worth $1,624,000 after acquiring an additional 469 shares during the last quarter. Focus Partners Wealth lifted its stake in Align Technology by 5.2% during the first quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock worth $486,000 after purchasing an additional 151 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Align Technology in the 2nd quarter worth about $204,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Align Technology by 4.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,372 shares of the medical equipment provider’s stock valued at $449,000 after buying an additional 102 shares in the last quarter. Finally, ARK Investment Management LLC lifted its position in Align Technology by 3.7% in the 2nd quarter. ARK Investment Management LLC now owns 6,205 shares of the medical equipment provider’s stock worth $1,175,000 after buying an additional 221 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Leerink Partners increased their price target on shares of Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Mizuho increased their target price on shares of Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research report on Thursday, October 30th. Wall Street Zen upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Finally, Robert W. Baird set a $218.00 price objective on Align Technology in a report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $195.58.

Align Technology Price Performance

Shares of ALGN opened at $189.40 on Friday. The company has a 50-day simple moving average of $169.25 and a two-hundred day simple moving average of $148.93. The firm has a market capitalization of $13.59 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 2.09 and a beta of 1.84. Align Technology, Inc. has a one year low of $122.00 and a one year high of $208.30.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company earned $2.44 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. Analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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.