Ohio Public Employees Retirement System reduced its position in shares of Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 9.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 31,609 shares of the medical equipment provider's stock after selling 3,418 shares during the period. Ohio Public Employees Retirement System's stake in Align Technology was valued at $9,651,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares in the company. Raymond James Trust NA grew his position in shares of Align Technology by 39.4% in the 1st quarter. Raymond James Trust NA now owns 934 shares of the medical device provider's stock valued at $407,000 after purchasing an additional 264 shares in the last quarter. Dimensional Fund Advisors LP grew his position in shares of Align Technology by 11.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 180,978 shares of the medical device provider's stock valued at $78,911,000 after purchasing an additional 18,153 shares in the last quarter. Prudential PLC bought a new stake in shares of Align Technology in the 1st quarter valued at approximately $955,000. Cetera Investment Advisers grew its position in shares of Align Technology by 4.9% in the 1st quarter. Cetera Investment Advisers now owns 1,713 shares of the medical device provider's stock valued at $747,000 after purchasing an additional 80 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of Align Technology by 17.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 526 shares of the medical device provider's stock valued at $229,000 after purchasing an additional 77 shares in the last quarter. 87.07% of the stock is currently owned by hedge funds and other institutional investors.
Align Technology Insider Activities
In related news, Director Joseph Lacob sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the transaction, the director now owns 146,994 shares in the company, valued at $46,010,591.94. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through this link. In related news, Director Joseph Lacob sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. This stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the transaction, the director now owns 146,994 shares in the company, valued at $46,010,591.94. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through this link. Also, Vice President Emory Wright sold 2,524 shares of the company's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Upon completion of the sale, the executive vice president will now directly own 709 shares of the company's stock, valued at $203,802.05. Disclosures regarding this sale can be found here. Insiders sold 27,524 shares of company stock valued at $8,403,924 in the last quarter. 0.64% of the shares are owned by insiders.
Align Technology trades fell 0.8%
Nasdaq ALGN stock opened Monday at $314.35. The stock has a market capitalization of $23.61 billion, a P/E ratio of 54.01x, a PEG ratio of 5.77x, and a beta of 1.65x. Align Technology has a low of $176.34 and a 12-month high of $413.20. His 50 day simple moving average for this company is $290.55 and his 200 day simple moving average is $271.24.
Align Technology (NASDAQ:ALGN – Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The medical device provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.13. The business had revenue of $956.73 million for the quarter, compared to analyst expectations of $928.57 million. Align Technology had a return on equity of 13.88% and a net profit margin of 11.52%. On average, stock analysts expect Align Technology Inc.'s EPS for the current fiscal year to be 7.65.
Analyst sets new price target
A number of equity research analysts have recently published reports on the company. Leerink Partners restated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. SVB Leerink began coverage on his Align Technology in a report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target for the stock. UBS Group increased their target price on Align Technology from $200.00 to $260.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Piper Sandler upped their target price on Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Goldman Sachs Group increased their target price on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd. One analyst has rated the stock as a “sell,” four have rated it a “hold,” and six have rated it a “buy.” Based on MarketBeat data, Align Technology has a consensus rating of “Hold” and an average price target of $338.09.
Read the latest stock price analysis for ALGN
Align Technology Company Profile
(Free report)
Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioners in the United States, Switzerland, and abroad. The company's clear aligner division offers a comprehensive range of products, including the Invisalign Comprehensive Package, which addresses the orthodontic needs of young patients, including mandibular advancement, compliance metrics, and tooth eruption compensation. The Invisalign First Phase I and Invisalign First Comprehensive Phase 2 packages are for younger patients, typically between the ages of 6 and 10, who have a mix of primary, primary, and permanent teeth.
Featured Stories
Curious if other hedge funds own ALGN? Visit HoldingsChannel.com to get the latest 13F filings and insider transactions for Align Technology, Inc. (NASDAQ:ALGN – Free Report).
Receive daily Align Technology news and reviews – Enter your email address below to receive a concise, daily summary of the latest news and analyst ratings on Align Technologies and related companies with MarketBeat.com's free daily email newsletter.
