Align Technology, Inc. (ALGN) Shares Bought by California State Teachers Retirement System
California State Teachers Retirement System lifted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 2.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 130,085 shares of the medical equipment provider’s stock after purchasing an additional 3,671 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Align Technology worth $27,244,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Berman Capital Advisors LLC acquired a new position in shares of Align Technology in the 4th quarter valued at approximately $27,000. Gemmer Asset Management LLC grew its position in shares of Align Technology by 57.3% in the 4th quarter. Gemmer Asset Management LLC now owns 140 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 51 shares during the period. JOYN Advisors Inc. grew its position in shares of Align Technology by 153.4% in the 4th quarter. JOYN Advisors Inc. now owns 147 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 89 shares during the period. San Francisco Sentry Investment Group CA boosted its position in Align Technology by 726.3% during the 4th quarter. San Francisco Sentry Investment Group CA now owns 157 shares of the medical equipment provider’s stock worth $33,000 after acquiring an additional 138 shares during the last quarter. Finally, Next Capital Management LLC acquired a new position in Align Technology during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 81.86% of the company’s stock.
In other news, SVP Julie Tay sold 1,250 shares of the stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $254.58, for a total value of $318,225.00. Following the completion of the sale, the senior vice president now owns 11,926 shares of the company’s stock, valued at approximately $3,036,121.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Lacob sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $258.31, for a total value of $5,166,200.00. The disclosure for this sale can be found here. In the last three months, insiders sold 21,650 shares of company stock valued at $5,586,633. 1.40% of the stock is currently owned by insiders.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Tuesday, January 29th. The medical equipment provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. The company had revenue of $534.02 million during the quarter, compared to the consensus estimate of $512.03 million. Align Technology had a return on equity of 33.41% and a net margin of 20.35%. Analysts forecast that Align Technology, Inc. will post 5.08 earnings per share for the current year.
A number of equities analysts have weighed in on ALGN shares. William Blair reaffirmed an “outperform” rating on shares of Align Technology in a research report on Monday, November 19th. Morgan Stanley reduced their price target on Align Technology from $300.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 4th. UBS Group started coverage on Align Technology in a research report on Thursday, January 17th. They set a “buy” rating and a $230.00 price target for the company. Robert W. Baird reduced their price target on Align Technology from $330.00 to $255.00 and set an “outperform” rating for the company in a research report on Wednesday, January 2nd. Finally, Leerink Swann reduced their price target on Align Technology from $300.00 to $285.00 and set an “outperform” rating for the company in a research report on Wednesday, January 30th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $331.59.
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Align Technology Company Profile
Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.
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