Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,276 shares of the medical equipment provider’s stock after selling 133 shares during the quarter. Kentucky Retirement Systems’ holdings in Align Technology were worth $1,274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Align Technology by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider’s stock valued at $2,746,378,000 after acquiring an additional 25,362 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Align Technology by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock valued at $277,230,000 after acquiring an additional 15,540 shares during the last quarter. Ninety One UK Ltd lifted its holdings in Align Technology by 1.0% in the 2nd quarter. Ninety One UK Ltd now owns 1,147,124 shares of the medical equipment provider’s stock valued at $276,950,000 after acquiring an additional 10,919 shares during the last quarter. Bares Capital Management Inc. lifted its holdings in Align Technology by 44.4% in the 1st quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock valued at $268,871,000 after acquiring an additional 252,220 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Align Technology by 11.1% in the 4th quarter. Allianz Asset Management GmbH now owns 668,823 shares of the medical equipment provider’s stock valued at $183,258,000 after acquiring an additional 67,088 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Performance

NASDAQ ALGN opened at $252.85 on Friday. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $335.40. The stock has a market capitalization of $19.04 billion, a price-to-earnings ratio of 41.66, a PEG ratio of 5.13 and a beta of 1.64. The stock’s 50 day moving average price is $232.50 and its two-hundred day moving average price is $264.61.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business earned $1.73 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that Align Technology, Inc. will post 7.61 EPS for the current year.

Insider Transactions at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the transaction, the director now directly owns 28,247 shares in the company, valued at $6,647,366.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ALGN shares. Piper Sandler restated an “overweight” rating and set a $315.00 price objective on shares of Align Technology in a report on Friday, September 13th. Morgan Stanley cut their price objective on Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Thursday. OTR Global restated a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Finally, Stifel Nicolaus cut their price objective on Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $306.88.

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.