California Public Employees Retirement System raised its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 241,142 shares of the medical equipment provider’s stock after purchasing an additional 4,159 shares during the period. California Public Employees Retirement System’s holdings in Align Technology were worth $53,579,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Shelton Capital Management acquired a new position in shares of Align Technology in the 4th quarter valued at $1,548,000. Nicollet Investment Management Inc. acquired a new position in shares of Align Technology in the 4th quarter valued at $1,514,000. ING Groep NV increased its position in shares of Align Technology by 346.8% in the 4th quarter. ING Groep NV now owns 10,876 shares of the medical equipment provider’s stock valued at $2,417,000 after acquiring an additional 8,442 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Align Technology by 4.7% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 22,540 shares of the medical equipment provider’s stock valued at $5,211,000 after acquiring an additional 1,017 shares during the period. Finally, DSAM Partners London Ltd acquired a new position in shares of Align Technology in the 4th quarter valued at $926,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of Align Technology, Inc. (NASDAQ ALGN) opened at $233.73 on Wednesday. Align Technology, Inc. has a 12 month low of $97.31 and a 12 month high of $287.32. The stock has a market cap of $18,691.83, a PE ratio of 59.78, a PEG ratio of 1.78 and a beta of 1.48.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.23. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The business had revenue of $421.30 million for the quarter, compared to analyst estimates of $395.88 million. During the same period in the prior year, the company posted $0.59 EPS. The company’s revenue for the quarter was up 43.7% on a year-over-year basis. analysts anticipate that Align Technology, Inc. will post 4.49 EPS for the current year.

In other news, CFO John Morici sold 1,500 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $255.00, for a total transaction of $382,500.00. Following the sale, the chief financial officer now directly owns 1,544 shares of the company’s stock, valued at approximately $393,720. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Emory Wright sold 45,780 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $260.08, for a total transaction of $11,906,462.40. Following the sale, the vice president now directly owns 29,957 shares in the company, valued at $7,791,216.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,029 shares of company stock worth $21,369,243. Corporate insiders own 1.60% of the company’s stock.

Several research firms have commented on ALGN. Stifel Nicolaus upped their price target on shares of Align Technology from $265.00 to $295.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $318.00 price target on the stock in a report on Monday, January 29th. Stephens lowered shares of Align Technology from an “overweight” rating to an “equal weight” rating and set a $230.00 price target on the stock. in a report on Friday, January 19th. Credit Suisse Group upped their price target on shares of Align Technology from $276.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, Leerink Swann upped their price target on shares of Align Technology from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $258.54.

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Align Technology Company Profile

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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