Align Technology, Inc. (ALGN) Position Lifted by California State Teachers Retirement System

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California State Teachers Retirement System increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 130,085 shares of the medical equipment provider’s stock after purchasing an additional 3,671 shares during the period. California State Teachers Retirement System’s holdings in Align Technology were worth $27,244,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Align Technology by 31.7% in the fourth quarter. BlackRock Inc. now owns 6,935,085 shares of the medical equipment provider’s stock valued at $1,452,414,000 after buying an additional 1,670,441 shares in the last quarter. FMR LLC boosted its stake in Align Technology by 6.2% in the third quarter. FMR LLC now owns 1,811,522 shares of the medical equipment provider’s stock valued at $708,704,000 after buying an additional 106,012 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Align Technology by 22.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,334,677 shares of the medical equipment provider’s stock valued at $279,521,000 after buying an additional 244,095 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in Align Technology by 1.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 938,023 shares of the medical equipment provider’s stock valued at $366,973,000 after buying an additional 9,958 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Align Technology by 0.5% in the fourth quarter. Northern Trust Corp now owns 922,908 shares of the medical equipment provider’s stock valued at $193,284,000 after buying an additional 4,994 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Yuval Shaked sold 400 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $255.52, for a total transaction of $102,208.00. Following the completion of the transaction, the director now directly owns 24 shares in the company, valued at $6,132.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Julie Tay sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $254.58, for a total value of $318,225.00. Following the transaction, the senior vice president now owns 11,926 shares of the company’s stock, valued at $3,036,121.08. The disclosure for this sale can be found here. Insiders have sold 21,650 shares of company stock valued at $5,586,633 over the last 90 days. 1.40% of the stock is owned by corporate insiders.

Shares of ALGN stock opened at $247.59 on Friday. Align Technology, Inc. has a 12 month low of $177.93 and a 12 month high of $398.88. The stock has a market cap of $20.17 billion, a PE ratio of 50.32, a PEG ratio of 2.29 and a beta of 2.12.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Tuesday, January 29th. The medical equipment provider reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.04. Align Technology had a return on equity of 33.41% and a net margin of 20.35%. The firm had revenue of $534.02 million for the quarter, compared to analyst estimates of $512.03 million. Sell-side analysts anticipate that Align Technology, Inc. will post 5.08 EPS for the current fiscal year.

ALGN has been the topic of several research analyst reports. ValuEngine lowered Align Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research lowered Align Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Robert W. Baird raised their price objective on Align Technology from $255.00 to $286.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. They noted that the move was a valuation call. Credit Suisse Group reduced their price objective on Align Technology from $277.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 30th. Finally, William Blair reaffirmed an “outperform” rating on shares of Align Technology in a research note on Monday, November 19th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $331.59.

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About Align Technology

Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.

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

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