New York State Common Retirement Fund Has $16.10 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

New York State Common Retirement Fund cut its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 11.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 58,744 shares of the medical equipment provider’s stock after selling 7,741 shares during the quarter. New York State Common Retirement Fund’s holdings in Align Technology were worth $16,096,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Deepwater Asset Management LLC grew its position in shares of Align Technology by 46.8% in the 4th quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock valued at $13,421,000 after purchasing an additional 15,608 shares during the period. London & Capital Asset Management Ltd boosted its position in Align Technology by 7.1% during the 4th quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock worth $15,899,000 after acquiring an additional 3,843 shares during the last quarter. Morgan Stanley raised its stake in shares of Align Technology by 9.8% during the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock worth $310,866,000 after purchasing an additional 90,581 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Align Technology by 20.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 33,344 shares of the medical equipment provider’s stock worth $9,136,000 after purchasing an additional 5,759 shares in the last quarter. Finally, Country Trust Bank raised its stake in Align Technology by 27.7% in the 4th quarter. Country Trust Bank now owns 80,830 shares of the medical equipment provider’s stock valued at $22,147,000 after acquiring an additional 17,515 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALGN. Leerink Partnrs restated a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. SVB Leerink began coverage on Align Technology in a research note on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target on the stock. Robert W. Baird increased their price target on Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley increased their price objective on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, The Goldman Sachs Group increased their price objective on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Align Technology currently has an average rating of “Moderate Buy” and a consensus price target of $353.00.

Align Technology Stock Down 0.5 %

ALGN stock opened at $309.02 on Monday. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $413.20. The firm has a market cap of $23.25 billion, a P/E ratio of 50.91, a P/E/G ratio of 5.53 and a beta of 1.65. The company’s 50-day moving average price is $313.38 and its two-hundred day moving average price is $270.82.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, beating the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. The firm had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Equities analysts predict that Align Technology, Inc. will post 7.69 EPS for the current year.

Insider Buying and Selling at Align Technology

In related news, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the sale, the director now directly owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the sale, the director now directly owns 146,994 shares in the company, valued at $46,010,591.94. The disclosure for this sale can be found here. Insiders have sold a total of 27,524 shares of company stock valued at $8,403,924 in the last ninety days. 0.64% of the stock is currently owned by company insiders.

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.