New Mexico Educational Retirement Board decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 18.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,550 shares of the medical equipment provider’s stock after selling 1,050 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Align Technology were worth $791,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ALGN. FMR LLC boosted its holdings in shares of Align Technology by 126.5% during the fourth quarter. FMR LLC now owns 290,512 shares of the medical equipment provider’s stock worth $81,065,000 after purchasing an additional 162,241 shares during the last quarter. Cetera Advisor Networks LLC acquired a new stake in shares of Align Technology during the fourth quarter worth $247,000. Banque Cantonale Vaudoise acquired a new stake in shares of Align Technology during the fourth quarter worth $335,000. Mackay Shields LLC boosted its holdings in shares of Align Technology by 5.9% during the fourth quarter. Mackay Shields LLC now owns 18,187 shares of the medical equipment provider’s stock worth $5,075,000 after purchasing an additional 1,012 shares during the last quarter. Finally, Mutual Advisors LLC acquired a new stake in shares of Align Technology during the fourth quarter worth $331,000. Institutional investors and hedge funds own 85.97% of the company’s stock.

A number of research analysts recently weighed in on ALGN shares. BidaskClub upgraded Align Technology from a “sell” rating to a “hold” rating in a report on Thursday, April 30th. Stephens reduced their target price on Align Technology from $220.00 to $165.00 and set an “equal weight” rating on the stock in a report on Thursday, March 19th. They noted that the move was a valuation call. UBS Group reduced their target price on Align Technology from $270.00 to $245.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Piper Sandler reduced their target price on Align Technology from $275.00 to $258.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Finally, SVB Leerink reiterated an “outperform” rating on shares of Align Technology in a report on Thursday, April 30th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $255.42.

In related news, CMO Vamsi Mohan Raj Pudipeddi sold 2,346 shares of Align Technology stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $230.09, for a total value of $539,791.14. Following the completion of the transaction, the chief marketing officer now directly owns 1,246 shares in the company, valued at $286,692.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Julie Tay sold 3,370 shares of Align Technology stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $241.00, for a total value of $812,170.00. Following the completion of the transaction, the senior vice president now owns 25,242 shares of the company’s stock, valued at $6,083,322. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,716 shares of company stock worth $6,241,054. Corporate insiders own 1.20% of the company’s stock.

Shares of NASDAQ ALGN opened at $266.48 on Tuesday. Align Technology, Inc. has a 1 year low of $127.88 and a 1 year high of $301.65. The firm has a market cap of $20.73 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 16.54 and a beta of 1.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.60 and a current ratio of 1.73. The stock’s 50-day simple moving average is $248.71 and its 200-day simple moving average is $237.37.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, April 29th. The medical equipment provider reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.27). Align Technology had a return on equity of 107.18% and a net margin of 78.42%. The business had revenue of $551.00 million for the quarter, compared to analysts’ expectations of $557.54 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. As a group, research analysts predict that Align Technology, Inc. will post 1.48 EPS for the current year.

About Align Technology

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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

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