Teachers Retirement System of The State of Kentucky Trims Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Teachers Retirement System of The State of Kentucky decreased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,279 shares of the medical equipment provider’s stock after selling 422 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Align Technology were worth $1,343,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. lifted its stake in Align Technology by 854.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 94 shares during the period. Innealta Capital LLC acquired a new position in Align Technology during the second quarter valued at $26,000. Rothschild Investment LLC purchased a new stake in Align Technology in the second quarter valued at $26,000. True Wealth Design LLC boosted its holdings in Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 107 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Align Technology during the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Down 0.6 %

ALGN stock opened at $228.81 on Wednesday. Align Technology, Inc. has a 52 week low of $196.09 and a 52 week high of $335.40. The firm has a 50-day simple moving average of $223.91 and a 200-day simple moving average of $233.79. The stock has a market capitalization of $17.08 billion, a P/E ratio of 39.05, a P/E/G ratio of 6.20 and a beta of 1.66.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.31 by $0.04. The company had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. Align Technology’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.62 EPS. On average, analysts expect that Align Technology, Inc. will post 7.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALGN has been the topic of a number of recent research reports. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Mizuho started coverage on Align Technology in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective on the stock. Piper Sandler cut their target price on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus lowered their price target on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $271.20.

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.