Teachers Retirement System of The State of Kentucky Cuts Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Teachers Retirement System of The State of Kentucky cut its holdings in Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 4.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,367 shares of the medical equipment provider’s stock after selling 233 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Align Technology were worth $2,340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Camden Capital LLC boosted its stake in Align Technology by 4.2% during the fourth quarter. Camden Capital LLC now owns 521 shares of the medical equipment provider’s stock worth $342,000 after buying an additional 21 shares during the period. Wetherby Asset Management Inc. boosted its stake in Align Technology by 1.8% during the fourth quarter. Wetherby Asset Management Inc. now owns 1,292 shares of the medical equipment provider’s stock worth $849,000 after buying an additional 23 shares during the period. Pinnacle Bancorp Inc. lifted its position in shares of Align Technology by 12.3% during the first quarter. Pinnacle Bancorp Inc. now owns 229 shares of the medical equipment provider’s stock worth $100,000 after purchasing an additional 25 shares during the last quarter. Fieldpoint Private Securities LLC lifted its position in shares of Align Technology by 9.5% during the first quarter. Fieldpoint Private Securities LLC now owns 299 shares of the medical equipment provider’s stock worth $130,000 after purchasing an additional 26 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC lifted its position in shares of Align Technology by 27.8% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 138 shares of the medical equipment provider’s stock worth $91,000 after purchasing an additional 30 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALGN has been the subject of several recent research reports. The Goldman Sachs Group downgraded Align Technology from a “buy” rating to a “sell” rating and decreased their price objective for the company from $380.00 to $250.00 in a report on Thursday, July 28th. Stephens decreased their price objective on Align Technology from $500.00 to $375.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Morgan Stanley decreased their price objective on Align Technology from $438.00 to $402.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Stifel Nicolaus decreased their price objective on Align Technology from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, July 14th. Finally, UBS Group decreased their price objective on Align Technology from $380.00 to $370.00 and set a “buy” rating for the company in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $358.33.

Align Technology Price Performance

ALGN opened at $232.22 on Wednesday. The business’s 50-day moving average is $264.69 and its two-hundred day moving average is $306.78. Align Technology, Inc. has a 1 year low of $225.86 and a 1 year high of $737.45. The firm has a market capitalization of $18.14 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 7.43 and a beta of 1.80.

Align Technology (NASDAQ:ALGNGet Rating) last posted its earnings results on Wednesday, July 27th. The medical equipment provider reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.23). Align Technology had a net margin of 15.52% and a return on equity of 17.47%. The company had revenue of $969.60 million during the quarter, compared to analysts’ expectations of $986.05 million. During the same quarter last year, the firm earned $2.51 EPS. Align Technology’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, sell-side analysts expect that Align Technology, Inc. will post 7.76 EPS for the current year.

About Align Technology

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Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

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

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