Meiji Yasuda Asset Management Co Ltd. grew its stake in Align Technology, Inc. (NASDAQ:ALGN) by 268.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,740 shares of the medical equipment provider’s stock after purchasing an additional 6,365 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Align Technology were worth $2,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Nicollet Investment Management Inc. lifted its holdings in Align Technology by 0.5% in the first quarter. Nicollet Investment Management Inc. now owns 7,095 shares of the medical equipment provider’s stock valued at $2,017,000 after acquiring an additional 35 shares during the last quarter. Quantum Capital Management lifted its stake in Align Technology by 3.0% during the first quarter. Quantum Capital Management now owns 1,545 shares of the medical equipment provider’s stock worth $439,000 after purchasing an additional 45 shares in the last quarter. Courier Capital LLC lifted its stake in Align Technology by 0.9% during the fourth quarter. Courier Capital LLC now owns 5,605 shares of the medical equipment provider’s stock worth $1,174,000 after purchasing an additional 50 shares in the last quarter. Captrust Financial Advisors lifted its stake in Align Technology by 67.6% during the fourth quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Finally, Cornerstone Advisors Inc. lifted its stake in Align Technology by 9.0% during the first quarter. Cornerstone Advisors Inc. now owns 633 shares of the medical equipment provider’s stock worth $180,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 82.63% of the company’s stock.

Shares of Align Technology stock traded up $1.34 during trading hours on Wednesday, reaching $310.22. 12,967 shares of the company were exchanged, compared to its average volume of 1,292,928. Align Technology, Inc. has a 1 year low of $177.93 and a 1 year high of $398.88. The firm has a market capitalization of $25.03 billion, a P/E ratio of 62.81, a P/E/G ratio of 2.43 and a beta of 2.14.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.06. Align Technology had a return on equity of 30.58% and a net margin of 18.10%. The business had revenue of $549.00 million for the quarter, compared to analyst estimates of $532.16 million. During the same quarter in the prior year, the company earned $1.17 earnings per share. The company’s revenue was up 25.7% on a year-over-year basis. On average, equities research analysts expect that Align Technology, Inc. will post 5.4 EPS for the current year.

In other news, SVP Julie Tay sold 13,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $322.41, for a total transaction of $4,352,535.00. Following the completion of the transaction, the senior vice president now directly owns 24,096 shares of the company’s stock, valued at approximately $7,768,791.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Raphael Pascaud sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $326.18, for a total transaction of $4,892,700.00. Following the transaction, the chief marketing officer now directly owns 34,092 shares of the company’s stock, valued at $11,120,128.56. The disclosure for this sale can be found here. Insiders have sold 55,283 shares of company stock worth $17,483,871 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

ALGN has been the topic of a number of research reports. OTR Global cut Align Technology to a “positive” rating in a research note on Thursday, March 14th. ValuEngine cut Align Technology from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. BidaskClub upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Barclays set a $325.00 price target on Align Technology and gave the stock a “buy” rating in a research note on Thursday, April 11th. Finally, Credit Suisse Group upped their price target on Align Technology from $305.00 to $316.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $339.31.

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Align Technology Company Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with 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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