Illinois Municipal Retirement Fund Sells 2,478 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Illinois Municipal Retirement Fund lessened its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 7.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 32,253 shares of the medical equipment provider’s stock after selling 2,478 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Align Technology were worth $6,725,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its stake in shares of Align Technology by 10,700.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 107 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Align Technology in the third quarter valued at $32,000. Quarry LP boosted its position in Align Technology by 74.8% during the third quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after acquiring an additional 95 shares during the last quarter. Versant Capital Management Inc grew its holdings in Align Technology by 212.2% during the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 157 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Align Technology in the 4th quarter worth about $52,000. Institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Bank of America boosted their price target on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Morgan Stanley dropped their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Piper Sandler cut their target price on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $269.91.

Align Technology Trading Up 2.5 %

Align Technology stock opened at $191.21 on Thursday. The firm has a market capitalization of $14.27 billion, a price-to-earnings ratio of 34.08, a price-to-earnings-growth ratio of 2.24 and a beta of 1.67. The firm’s fifty day moving average price is $212.99 and its two-hundred day moving average price is $223.84. Align Technology, Inc. has a 1-year low of $183.26 and a 1-year 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 earnings per share 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%. On average, research analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

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.