Teachers Retirement System of The State of Kentucky Trims Holdings in Align Technology, Inc. (ALGN)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 22.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,600 shares of the medical equipment provider’s stock after selling 3,100 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Align Technology were worth $2,356,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ark Investment Management LLC increased its position in shares of Align Technology by 73.5% in the 2nd quarter. Ark Investment Management LLC now owns 12,773 shares of the medical equipment provider’s stock valued at $1,917,000 after purchasing an additional 5,410 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Align Technology by 15.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 7,310 shares of the medical equipment provider’s stock valued at $1,362,000 after purchasing an additional 983 shares during the last quarter. Global X MANAGEMENT CO LLC increased its position in shares of Align Technology by 82.2% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 2,170 shares of the medical equipment provider’s stock valued at $404,000 after purchasing an additional 979 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Align Technology by 6.8% in the 3rd quarter. New York State Common Retirement Fund now owns 250,452 shares of the medical equipment provider’s stock valued at $46,652,000 after purchasing an additional 15,910 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Align Technology by 7.6% in the 3rd quarter. Toronto Dominion Bank now owns 27,538 shares of the medical equipment provider’s stock valued at $5,129,000 after purchasing an additional 1,955 shares during the last quarter. Institutional investors own 80.53% of the company’s stock.

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A number of brokerages have commented on ALGN. Vetr downgraded shares of Align Technology from a “strong-buy” rating to a “buy” rating and set a $302.42 price objective on the stock. in a research report on Monday, March 12th. BidaskClub raised shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Saturday, March 10th. Barclays began coverage on shares of Align Technology in a research report on Thursday, March 8th. They issued an “overweight” rating and a $290.00 price objective on the stock. ValuEngine raised shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Zacks Investment Research downgraded shares of Align Technology from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Align Technology presently has a consensus rating of “Buy” and a consensus target price of $263.56.

Align Technology stock opened at $270.41 on Monday. The company has a market cap of $21,669.37, a price-to-earnings ratio of 69.34, a P/E/G ratio of 2.04 and a beta of 1.44. Align Technology, Inc. has a 52-week low of $110.25 and a 52-week high of $287.32.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.23. The firm had revenue of $421.30 million for the quarter, compared to the consensus estimate of $395.88 million. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The company’s revenue was up 43.7% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. analysts predict that Align Technology, Inc. will post 4.52 EPS for the current year.

In related news, VP Emory Wright sold 45,780 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $260.08, for a total value of $11,906,462.40. Following the transaction, the vice president now directly owns 29,957 shares of the company’s stock, valued at approximately $7,791,216.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Hogan purchased 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average price of $233.63 per share, with a total value of $350,445.00. Following the purchase, the insider now owns 42,984 shares in the company, valued at $10,042,351.92. The disclosure for this purchase can be found here. Company insiders own 1.60% of the company’s stock.

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Align Technology Company Profile

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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