Kentucky Retirement Systems Has $1.24 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Kentucky Retirement Systems lowered its stake in Align Technology, Inc. (NASDAQ:ALGN) by 7.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,892 shares of the medical equipment provider’s stock after selling 384 shares during the period. Kentucky Retirement Systems’ holdings in Align Technology were worth $1,244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALGN. Empirical Finance LLC boosted its holdings in shares of Align Technology by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $632,000 after acquiring an additional 50 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Align Technology by 8.5% during the third quarter. CIBC Asset Management Inc now owns 10,411 shares of the medical equipment provider’s stock valued at $2,648,000 after purchasing an additional 812 shares in the last quarter. ING Groep NV grew its holdings in shares of Align Technology by 201.4% during the third quarter. ING Groep NV now owns 28,391 shares of the medical equipment provider’s stock worth $7,220,000 after purchasing an additional 18,970 shares during the last quarter. Metis Global Partners LLC increased its stake in shares of Align Technology by 3.5% in the third quarter. Metis Global Partners LLC now owns 2,780 shares of the medical equipment provider’s stock valued at $707,000 after buying an additional 94 shares during the period. Finally, KBC Group NV raised its holdings in Align Technology by 11.8% in the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock valued at $13,595,000 after buying an additional 5,663 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Up 2.8 %

Shares of ALGN stock opened at $229.90 on Tuesday. The firm has a 50 day moving average of $229.02 and a 200-day moving average of $239.22. The company has a market cap of $17.16 billion, a price-to-earnings ratio of 39.23, a price-to-earnings-growth ratio of 5.79 and a beta of 1.65. Align Technology, Inc. has a 52 week low of $196.09 and a 52 week high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 earnings per share. Analysts anticipate that Align Technology, Inc. will post 7.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALGN shares. Evercore ISI decreased their price target on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Robert W. Baird decreased their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Morgan Stanley decreased their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Align Technology presently has a consensus rating of “Hold” and an average price target of $276.38.

About Align Technology

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.