Align Technology, Inc. (NASDAQ:ALGN) Holdings Raised by MML Investors Services LLC

Posted by Defense World Staff on Mar 2nd, 2023

MML Investors Services LLC boosted its holdings in Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 35.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,922 shares of the medical equipment provider’s stock after acquiring an additional 1,810 shares during the quarter. MML Investors Services LLC’s holdings in Align Technology were worth $1,434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vestmark Advisory Solutions Inc. grew its stake in Align Technology by 27.9% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 6,503 shares of the medical equipment provider’s stock valued at $1,347,000 after acquiring an additional 1,419 shares in the last quarter. Czech National Bank acquired a new position in shares of Align Technology during the third quarter worth approximately $1,748,000. Fifth Third Bancorp lifted its holdings in shares of Align Technology by 15.7% during the third quarter. Fifth Third Bancorp now owns 5,051 shares of the medical equipment provider’s stock worth $1,046,000 after buying an additional 687 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Align Technology during the third quarter valued at approximately $486,000. Finally, EFG Asset Management North America Corp. grew its position in Align Technology by 18.4% in the third quarter. EFG Asset Management North America Corp. now owns 27,385 shares of the medical equipment provider’s stock valued at $5,673,000 after acquiring an additional 4,264 shares during the period. 84.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on ALGN. Robert W. Baird increased their target price on Align Technology from $260.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. The Goldman Sachs Group upgraded Align Technology from a “sell” rating to a “neutral” rating and increased their target price for the stock from $165.00 to $307.00 in a report on Thursday, February 2nd. Evercore ISI increased their target price on Align Technology from $230.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Stifel Nicolaus upped their price target on Align Technology from $265.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. Finally, Piper Sandler upped their price target on Align Technology from $255.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $358.78.

Align Technology Stock Performance

NASDAQ:ALGN opened at $308.53 on Thursday. The stock has a 50-day simple moving average of $269.49 and a 200 day simple moving average of $235.65. The company has a market cap of $24.10 billion, a PE ratio of 66.93, a PEG ratio of 2.93 and a beta of 1.62. Align Technology, Inc. has a 52-week low of $172.05 and a 52-week high of $505.20.

Insider Activity

In other news, CEO Joseph M. Hogan purchased 2,928 shares of the company’s stock in a transaction that occurred on Wednesday, February 8th. The stock was acquired at an average cost of $341.50 per share, with a total value of $999,912.00. Following the acquisition, the chief executive officer now owns 188,417 shares in the company, valued at approximately $64,344,405.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Align Technology news, CFO John Morici purchased 587 shares of the firm’s stock in a transaction dated Wednesday, February 8th. The shares were bought at an average price of $341.84 per share, for a total transaction of $200,660.08. Following the purchase, the chief financial officer now owns 8,204 shares in the company, valued at approximately $2,804,455.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joseph M. Hogan acquired 2,928 shares of Align Technology stock in a transaction that occurred on Wednesday, February 8th. The shares were purchased at an average price of $341.50 per share, for a total transaction of $999,912.00. Following the transaction, the chief executive officer now directly owns 188,417 shares in the company, valued at $64,344,405.50. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

Align Technology Profile

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Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of Invisalign full, teen, and assist products, and Vivera retainers for treating malocclusion.