Oregon Public Employees Retirement Fund Has $1.45 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

Oregon Public Employees Retirement Fund lessened its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,992 shares of the medical equipment provider’s stock after selling 76 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Align Technology were worth $1,447,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ALGN. Mather Group LLC. bought a new stake in Align Technology in the 1st quarter valued at $26,000. Innealta Capital LLC acquired a new stake in shares of Align Technology during the 2nd quarter valued at about $26,000. Rothschild Investment LLC bought a new stake in Align Technology in the second quarter valued at about $26,000. Versant Capital Management Inc raised its position in Align Technology by 547.1% in the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 93 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in Align Technology in the first quarter worth about $29,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Ratings Changes

ALGN has been the subject of several analyst reports. Evercore ISI cut their target price on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 10th. StockNews.com cut Align Technology from a “buy” rating to a “hold” rating in a report on Sunday, September 1st. Robert W. Baird lowered their target price on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. OTR Global reissued a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Finally, Stifel Nicolaus decreased their price objective on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $306.88.

Align Technology Price Performance

Shares of ALGN opened at $221.15 on Friday. The business has a 50-day moving average of $233.33 and a 200-day moving average of $269.24. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $367.71. The company has a market capitalization of $16.65 billion, a price-to-earnings ratio of 36.43, a price-to-earnings-growth ratio of 5.40 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $1.73 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Align Technology, Inc. will post 7.61 EPS for the current year.

Insider Activity

In related news, Director C Raymond Larkin, Jr. bought 6,500 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the purchase, the director now owns 28,247 shares in the company, valued at approximately $6,647,366.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

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.