(Updates with Align's response in the third paragraph.)

Elliott Investment Management has amassed a sizable stake in Align Technology (ALGN) and plans to engage with the dental device company to encourage it to consider ways to boost its stock price, Bloomberg News reported Thursday, citing people familiar with the matter.

The activist investor is now one of the largest shareholders of the Invisalign teeth-straightening product maker, the unnamed sources told the news outlet.

Align said in an email to MT Newswires that it is open to engaging with Elliot as with other shareholders. "Align is focused on executing its strategic plan, delivering superior outcomes for doctors and patients and driving sustainable growth and performance," the company said.

Elliot didn't immediately respond to MT Newswires' request for comment.

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