Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 30.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,005 shares of the medical equipment provider’s stock after selling 3,449 shares during the period. State of Alaska Department of Revenue’s holdings in Align Technology were worth $1,669,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC raised its position in shares of Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 107 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Align Technology in the 3rd quarter valued at $32,000. Versant Capital Management Inc grew its holdings in shares of Align Technology by 212.2% during the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 157 shares during the period. Quarry LP increased its position in shares of Align Technology by 74.8% during the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after purchasing an additional 95 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Align Technology during the 3rd quarter worth about $77,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Robert W. Baird dropped their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Evercore ISI raised their price target on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $235.00 to $280.00 in a report on Monday, January 6th. Finally, Stifel Nicolaus lowered their target price on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $271.40.

Align Technology Trading Down 0.7 %

NASDAQ:ALGN opened at $210.52 on Wednesday. The firm has a market cap of $15.72 billion, a price-to-earnings ratio of 37.53, a price-to-earnings-growth ratio of 4.79 and a beta of 1.67. Align Technology, Inc. has a 12-month low of $196.09 and a 12-month high of $335.40. The company’s 50-day moving average is $220.81 and its two-hundred day moving average is $225.42.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. On average, equities research analysts forecast that Align Technology, Inc. will post 8.09 earnings per share for the current fiscal year.

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.