Mizuho Securities Co. Ltd. Invests $422,000 in Align Technology, Inc. (NASDAQ:ALGN)

Mizuho Securities Co. Ltd. bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,540 shares of the medical equipment provider’s stock, valued at approximately $422,000. Align Technology accounts for about 1.5% of Mizuho Securities Co. Ltd.’s investment portfolio, making the stock its 18th largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Huntington National Bank raised its position in shares of Align Technology by 94.9% during the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 56 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in Align Technology during the third quarter valued at $61,000. Orion Capital Management LLC purchased a new stake in Align Technology in the 3rd quarter worth about $61,000. Operose Advisors LLC purchased a new stake in Align Technology in the 3rd quarter worth about $63,000. Finally, Covestor Ltd lifted its stake in Align Technology by 379.5% in the 3rd quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock worth $64,000 after acquiring an additional 167 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Performance

Shares of NASDAQ ALGN traded up $11.06 during mid-day trading on Tuesday, reaching $311.88. 621,296 shares of the company traded hands, compared to its average volume of 740,570. The stock has a market cap of $23.47 billion, a PE ratio of 53.59, a price-to-earnings-growth ratio of 5.35 and a beta of 1.65. The company’s fifty day moving average is $313.14 and its two-hundred day moving average is $270.22. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. The firm had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. Research analysts forecast that Align Technology, Inc. will post 7.69 earnings per share for the current year.

Insider Buying and Selling at Align Technology

In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the sale, the director now owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the sale, the director now owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the sale, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock valued at $8,403,924 in the last 90 days. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALGN. UBS Group increased their price objective on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Stifel Nicolaus upped their target price on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. The Goldman Sachs Group upped their target price on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. SVB Leerink began coverage on Align Technology in a research report on Monday, February 26th. They issued a “market perform” rating and a $310.00 target price on the stock. Finally, Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and an average target price of $344.45.

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.