Arizona State Retirement System Buys 93 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Arizona State Retirement System increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,584 shares of the medical equipment provider’s stock after buying an additional 93 shares during the quarter. Arizona State Retirement System’s holdings in Align Technology were worth $4,292,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of Align Technology by 49.0% during the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after purchasing an additional 866,663 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Align Technology by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock worth $443,810,000 after purchasing an additional 21,605 shares during the last quarter. FMR LLC lifted its position in shares of Align Technology by 43.0% during the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after purchasing an additional 367,508 shares during the last quarter. Ninety One UK Ltd lifted its position in shares of Align Technology by 3.7% during the fourth quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock worth $254,508,000 after purchasing an additional 43,524 shares during the last quarter. Finally, Meridiem Investment Management Ltd. lifted its position in shares of Align Technology by 63.7% during the fourth quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after purchasing an additional 297,472 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Trading Up 1.0 %

Shares of Align Technology stock opened at $173.75 on Friday. The stock’s fifty day moving average price is $208.02 and its 200-day moving average price is $221.29. Align Technology, Inc. has a 12 month low of $167.32 and a 12 month high of $335.40. The firm has a market cap of $12.79 billion, a P/E ratio of 30.97, a P/E/G ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) 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%. Analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Mizuho assumed coverage on Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price for the company. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Bank of America lifted their target price on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Finally, Evercore ISI raised their price target on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $269.91.

Align Technology Company 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.