Mitsubishi UFJ Asset Management Co. Ltd. Acquires 1,069 Shares of Align Technology, Inc. $ALGN

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,296 shares of the medical equipment provider’s stock after purchasing an additional 1,069 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Align Technology worth $25,048,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC increased its holdings in Align Technology by 7,650.0% during the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 153 shares during the last quarter. Cromwell Holdings LLC grew its position in shares of Align Technology by 2,900.0% during the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider’s stock valued at $34,000 after acquiring an additional 174 shares during the period. SVB Wealth LLC bought a new position in shares of Align Technology during the 1st quarter valued at approximately $36,000. Farther Finance Advisors LLC increased its stake in shares of Align Technology by 42.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider’s stock worth $59,000 after purchasing an additional 92 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Align Technology by 18.8% in the 1st quarter. Covestor Ltd now owns 493 shares of the medical equipment provider’s stock worth $78,000 after purchasing an additional 78 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALGN has been the subject of several research reports. UBS Group reduced their price objective on Align Technology from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. Wall Street Zen upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Saturday. Stifel Nicolaus set a $200.00 price objective on Align Technology in a research note on Thursday, October 30th. Evercore ISI upped their price objective on shares of Align Technology from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Jefferies Financial Group lifted their target price on shares of Align Technology from $140.00 to $155.00 in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $175.45.

Align Technology Stock Performance

Shares of ALGN opened at $144.49 on Wednesday. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $246.19. The stock’s 50-day simple moving average is $132.67 and its 200 day simple moving average is $159.84. The stock has a market capitalization of $10.37 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 1.49 and a beta of 1.84.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.23. Align Technology had a return on equity of 14.06% and a net margin of 9.50%.The firm had revenue of $995.69 million for the quarter, compared to analysts’ expectations of $980.75 million. During the same period in the prior year, the business posted $2.35 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. Align Technology has set its Q4 2025 guidance at EPS. On average, research analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Align Technology declared that its Board of Directors has approved a stock buyback plan on Tuesday, August 5th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the medical equipment provider to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.