Oregon Public Employees Retirement Fund Sells 149 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Oregon Public Employees Retirement Fund lowered its holdings in shares of Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 2.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,568 shares of the medical equipment provider’s stock after selling 149 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Align Technology were worth $1,153,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ALGN. Castle Wealth Management LLC bought a new position in shares of Align Technology during the second quarter valued at $38,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Align Technology by 27.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 224 shares of the medical equipment provider’s stock valued at $46,000 after acquiring an additional 48 shares during the last quarter. Benjamin Edwards Inc. bought a new position in shares of Align Technology during the third quarter valued at $47,000. Sandy Spring Bank raised its stake in shares of Align Technology by 40.0% during the second quarter. Sandy Spring Bank now owns 224 shares of the medical equipment provider’s stock valued at $53,000 after acquiring an additional 64 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of Align Technology during the second quarter worth $53,000. Institutional investors own 84.90% of the company’s stock.

Align Technology Trading Up 2.8 %

NASDAQ:ALGN opened at $243.01 on Monday. The stock has a market capitalization of $18.98 billion, a price-to-earnings ratio of 37.56, a PEG ratio of 29.94 and a beta of 1.59. The firm has a fifty day simple moving average of $208.11 and a two-hundred day simple moving average of $228.51. Align Technology, Inc. has a 12 month low of $172.05 and a 12 month high of $552.00.

Align Technology (NASDAQ:ALGNGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The medical equipment provider reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.95). The company had revenue of $890.35 million during the quarter, compared to analyst estimates of $973.00 million. Align Technology had a return on equity of 14.39% and a net margin of 13.22%. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.28 earnings per share. Equities analysts predict that Align Technology, Inc. will post 5.8 earnings per share for the current fiscal year.

Insider Activity

In other Align Technology news, CEO Joseph M. Hogan acquired 10,600 shares of Align Technology stock in a transaction dated Wednesday, November 2nd. The stock was purchased at an average cost of $188.58 per share, for a total transaction of $1,998,948.00. Following the completion of the acquisition, the chief executive officer now directly owns 185,401 shares of the company’s stock, valued at $34,962,920.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Warren S. Thaler purchased 1,050 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were bought at an average cost of $191.21 per share, with a total value of $200,770.50. Following the completion of the transaction, the director now directly owns 30,666 shares of the company’s stock, valued at $5,863,645.86. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph M. Hogan purchased 10,600 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were purchased at an average cost of $188.58 per share, for a total transaction of $1,998,948.00. Following the completion of the transaction, the chief executive officer now directly owns 185,401 shares of the company’s stock, valued at $34,962,920.58. The disclosure for this purchase can be found here. Corporate insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ALGN shares. Stifel Nicolaus decreased their price objective on shares of Align Technology from $325.00 to $265.00 in a research report on Thursday, October 27th. The Goldman Sachs Group decreased their price objective on shares of Align Technology from $250.00 to $165.00 and set a “sell” rating for the company in a research report on Thursday, October 27th. Morgan Stanley decreased their price objective on shares of Align Technology from $402.00 to $314.00 and set an “overweight” rating for the company in a research report on Thursday, October 27th. Robert W. Baird decreased their price objective on shares of Align Technology from $310.00 to $260.00 in a research report on Thursday, October 27th. Finally, Piper Sandler increased their price objective on shares of Align Technology from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $300.78.

Align Technology Profile

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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.

See Also

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

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