State of Alaska Department of Revenue Acquires 1,090 Shares of Align Technology, Inc. (NASDAQ:ALGN)

State of Alaska Department of Revenue boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 7.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 16,316 shares of the medical equipment provider’s stock after purchasing an additional 1,090 shares during the quarter. State of Alaska Department of Revenue’s holdings in Align Technology were worth $3,861,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. CHICAGO TRUST Co NA lifted its position in shares of Align Technology by 27.1% in the 1st quarter. CHICAGO TRUST Co NA now owns 872 shares of the medical equipment provider’s stock worth $380,000 after acquiring an additional 186 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Align Technology in the 1st quarter worth approximately $419,000. Envestnet Asset Management Inc. lifted its position in shares of Align Technology by 26.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 117,597 shares of the medical equipment provider’s stock worth $51,272,000 after acquiring an additional 24,438 shares during the period. RDA Financial Network lifted its position in shares of Align Technology by 12.8% in the 1st quarter. RDA Financial Network now owns 3,926 shares of the medical equipment provider’s stock worth $1,712,000 after acquiring an additional 445 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Align Technology by 7.8% in the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,165 shares of the medical equipment provider’s stock worth $944,000 after acquiring an additional 157 shares during the period. Institutional investors own 86.50% of the company’s stock.

Align Technology Stock Down 2.4 %

Shares of NASDAQ:ALGN opened at $226.68 on Thursday. Align Technology, Inc. has a 12 month low of $225.81 and a 12 month high of $737.45. The company’s 50-day moving average price is $263.89 and its two-hundred day moving average price is $305.71. The firm has a market cap of $17.71 billion, a P/E ratio of 28.99, a P/E/G ratio of 7.28 and a beta of 1.80.

Align Technology (NASDAQ:ALGNGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The medical equipment provider reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.23). Align Technology had a return on equity of 17.47% and a net margin of 15.52%. The company had revenue of $969.60 million for the quarter, compared to the consensus estimate of $986.05 million. During the same period in the prior year, the company earned $2.51 EPS. The firm’s revenue was down 3.0% compared to the same quarter last year. As a group, equities analysts predict that Align Technology, Inc. will post 7.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on ALGN. Stephens reduced their price objective on Align Technology from $500.00 to $375.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Robert W. Baird cut their price objective on Align Technology from $450.00 to $410.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. The Goldman Sachs Group lowered shares of Align Technology from a “buy” rating to a “sell” rating and lowered their target price for the stock from $380.00 to $250.00 in a report on Thursday, July 28th. Stifel Nicolaus lowered their target price on shares of Align Technology from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, July 14th. Finally, Piper Sandler lowered their target price on shares of Align Technology from $370.00 to $340.00 and set an “overweight” rating on the stock in a report on Friday, September 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $358.33.

Align Technology Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding ALGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Align Technology, Inc. (NASDAQ:ALGNGet Rating).

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

Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.