Kentucky Retirement Systems Trims Position in Align Technology, Inc. (NASDAQ:ALGN)

Kentucky Retirement Systems decreased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,825 shares of the medical equipment provider’s stock after selling 67 shares during the period. Kentucky Retirement Systems’ holdings in Align Technology were worth $1,006,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Align Technology by 49.0% during the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after buying an additional 866,663 shares during the period. Geode Capital Management LLC lifted its stake in shares of Align Technology by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock valued at $443,810,000 after buying an additional 21,605 shares during the period. FMR LLC lifted its stake in shares of Align Technology by 43.0% during the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after buying an additional 367,508 shares during the period. Ninety One UK Ltd lifted its stake in shares of Align Technology by 3.7% during the fourth quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock valued at $254,508,000 after buying an additional 43,524 shares during the period. Finally, Meridiem Investment Management Ltd. raised its stake in Align Technology by 63.7% during the fourth quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after purchasing an additional 297,472 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ALGN. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley cut their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Mizuho began coverage on shares of Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price target on the stock. Piper Sandler cut their price target on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Bank of America increased their price target on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $269.91.

Align Technology Stock Up 0.2 %

Align Technology stock opened at $190.72 on Tuesday. Align Technology, Inc. has a 52-week low of $185.20 and a 52-week high of $335.40. The firm has a fifty day moving average of $214.26 and a 200-day moving average of $224.27. The firm has a market capitalization of $14.24 billion, a P/E ratio of 34.00, a PEG ratio of 2.33 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology Company Profile

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.