UniSuper Management Pty Ltd Raises Stake in Align Technology, Inc. (NASDAQ:ALGN)

UniSuper Management Pty Ltd grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 324.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,822 shares of the medical equipment provider’s stock after purchasing an additional 2,922 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Align Technology were worth $1,253,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. purchased a new stake in shares of Align Technology during the first quarter valued at approximately $26,000. Lindbrook Capital LLC boosted its stake in shares of Align Technology by 47.2% during the first quarter. Lindbrook Capital LLC now owns 187 shares of the medical equipment provider’s stock valued at $61,000 after purchasing an additional 60 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of Align Technology by 97.2% during the fourth quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock valued at $77,000 after purchasing an additional 138 shares during the period. Scarborough Advisors LLC purchased a new stake in Align Technology in the fourth quarter worth $86,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in Align Technology by 61.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 328 shares of the medical equipment provider’s stock worth $90,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Up 0.5 %

Shares of NASDAQ:ALGN traded up $1.34 on Tuesday, hitting $250.65. 567,565 shares of the company traded hands, compared to its average volume of 762,212. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20. The stock has a 50 day simple moving average of $251.71 and a 200-day simple moving average of $281.58. The company has a market cap of $18.87 billion, a PE ratio of 41.29, a PEG ratio of 4.67 and a beta of 1.66.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.08. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. The firm had revenue of $997.43 million during the quarter, compared to the consensus estimate of $971.97 million. As a group, sell-side analysts anticipate that Align Technology, Inc. will post 7.84 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on ALGN shares. OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. Morgan Stanley raised their price target on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 price target on shares of Align Technology in a research note on Wednesday, July 10th. UBS Group raised their price target on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Finally, Robert W. Baird decreased their price objective on Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $342.00.

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.