Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 30.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,005 shares of the medical equipment provider’s stock after selling 3,449 shares during the quarter. State of Alaska Department of Revenue’s holdings in Align Technology were worth $1,669,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP acquired a new stake in shares of Align Technology in the third quarter valued at about $4,250,000. Swedbank AB increased its stake in Align Technology by 30.1% during the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after buying an additional 90,000 shares during the period. KBC Group NV lifted its holdings in Align Technology by 11.8% in the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock worth $13,595,000 after buying an additional 5,663 shares in the last quarter. Nordea Investment Management AB boosted its position in Align Technology by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock valued at $56,870,000 after buying an additional 9,139 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Align Technology by 2.6% during the third quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock valued at $26,900,000 after acquiring an additional 2,717 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Stifel Nicolaus cut their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley reduced their target price on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Evercore ISI boosted their target price on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Robert W. Baird reduced their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and an average target price of $271.40.

Align Technology Trading Down 0.7 %

Shares of Align Technology stock opened at $210.52 on Wednesday. The stock has a market capitalization of $15.72 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 4.79 and a beta of 1.67. The business’s 50 day simple moving average is $220.81 and its 200-day simple moving average is $225.42. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. Sell-side analysts predict that Align Technology, Inc. will post 8.09 earnings per share for the current year.

Align Technology Profile

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.