Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 4.4% during the 4th quarter, Holdings Channel reports. The fund owned 6,265 shares of the medical equipment provider’s stock after selling 287 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Align Technology were worth $1,717,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new stake in Align Technology during the third quarter worth about $61,000. Operose Advisors LLC acquired a new stake in Align Technology during the third quarter worth about $63,000. Covestor Ltd grew its holdings in Align Technology by 379.5% during the third quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock worth $64,000 after acquiring an additional 167 shares during the period. Valley National Advisers Inc. boosted its position in Align Technology by 29.7% during the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock worth $65,000 after purchasing an additional 49 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Align Technology by 97.2% during the fourth quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock worth $77,000 after purchasing an additional 138 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. OTR Global reiterated a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. Stifel Nicolaus increased their price target on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Robert W. Baird increased their price target on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, Evercore ISI lowered their price target on Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $346.50.

Align Technology Stock Performance

Shares of Align Technology stock opened at $242.19 on Friday. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20. The company has a market cap of $18.23 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 4.49 and a beta of 1.62. The business’s 50 day moving average price is $272.89 and its 200 day moving average price is $282.94.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.08. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. The firm had revenue of $997.43 million for the quarter, compared to the consensus estimate of $971.97 million. On average, analysts predict that Align Technology, Inc. will post 7.86 EPS for the current fiscal year.

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.