Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 364 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 2.4% in the fourth quarter, Holdings Channel reports. The firm owned 14,921 shares of the medical equipment provider’s stock after selling 364 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Align Technology were worth $3,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALGN. Picton Mahoney Asset Management boosted its stake in shares of Align Technology by 69.9% during the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 58 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Align Technology by 9.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider’s stock valued at $158,000 after purchasing an additional 64 shares during the last quarter. Beech Hill Advisors Inc. grew its stake in Align Technology by 0.6% in the fourth quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock valued at $2,425,000 after purchasing an additional 65 shares in the last quarter. New York Life Investment Management LLC increased its position in shares of Align Technology by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider’s stock worth $1,961,000 after purchasing an additional 68 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Align Technology by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider’s stock worth $1,626,000 after purchasing an additional 91 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Up 1.0 %

NASDAQ ALGN opened at $170.37 on Tuesday. The firm has a 50-day moving average price of $197.91 and a two-hundred day moving average price of $216.13. Align Technology, Inc. has a 12-month low of $158.13 and a 12-month high of $331.64. The company has a market capitalization of $12.54 billion, a P/E ratio of 30.37, a P/E/G ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. Equities analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALGN. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Bank of America lifted their price target on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Jefferies Financial Group dropped their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Mizuho initiated coverage on Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price for the company. Finally, Piper Sandler restated an “overweight” rating and issued a $235.00 price target (down previously from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.73.

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.