Align Technology, Inc. $ALGN Shares Newly Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,079 shares of the medical equipment provider’s stock, valued at approximately $2,482,000.

Several other institutional investors have also made changes to their positions in ALGN. BlackRock Inc. purchased a new position in Align Technology during the second quarter valued at approximately $745,370,000. Assenagon Asset Management S.A. lifted its position in Align Technology by 638.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,662,437 shares of the medical equipment provider’s stock worth $629,469,000 after buying an additional 4,031,284 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Align Technology by 3,162.7% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,097,745 shares of the medical equipment provider’s stock worth $278,342,000 after buying an additional 2,033,451 shares in the last quarter. Vontobel Holding Ltd. lifted its position in Align Technology by 69,628.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,385,513 shares of the medical equipment provider’s stock worth $183,335,000 after buying an additional 1,383,526 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Align Technology during the 2nd quarter valued at $99,779,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on ALGN shares. Evercore cut shares of Align Technology from an “outperform” rating to an “in-line” rating and set a $155.00 price target on the stock. in a report on Monday, October 5th. UBS Group reiterated a “neutral” rating and set a $189.00 price objective on shares of Align Technology in a report on Thursday, July 23rd. Morgan Stanley reduced their price objective on Align Technology from $188.00 to $175.00 and set an “equal weight” rating for the company in a research report on Thursday, October 29th. Mizuho reduced their price objective on Align Technology from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.08.

Align Technology Stock Up 4.2%

Shares of Align Technology stock opened at $166.00 on Friday. The stock has a market capitalization of $11.89 billion, a P/E ratio of 24.16, a PEG ratio of 1.80 and a beta of 1.74. The stock has a 50 day moving average price of $150.38 and a two-hundred day moving average price of $168.50. Align Technology, Inc. has a 12-month low of $130.23 and a 12-month high of $200.43.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.03. Align Technology had a net margin of 11.83% and a return on equity of 15.96%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm posted $2.61 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Sell-side analysts anticipate that Align Technology, Inc. will post 9.21 earnings per share for the current year.

Align Technology Company Profile

Align Technology, Inc develops, manufactures and markets digital orthodontic and restorative dentistry products. Its best-known offering is the Invisalign system, which uses a series of custom-made clear aligners to straighten teeth. The company also sells Vivera retainers and iTero intraoral scanners, which support digital dental imaging and treatment planning.

Founded in 1997, Align helped popularize clear-aligner orthodontic treatment as an alternative to traditional braces. Its digital dentistry portfolio also includes exocad software, used by dental professionals and laboratories to design dental restorations.

Headquartered in Tempe, Arizona, Align serves dental professionals and patients in markets around the world.