New York State Common Retirement Fund lifted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,452 shares of the medical equipment provider’s stock after purchasing an additional 15,910 shares during the period. New York State Common Retirement Fund owned about 0.31% of Align Technology worth $46,652,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in ALGN. Schroder Investment Management Group purchased a new stake in Align Technology during the 2nd quarter worth approximately $104,000. Whittier Trust Co. purchased a new stake in Align Technology during the 3rd quarter worth approximately $107,000. Bronfman E.L. Rothschild L.P. increased its stake in Align Technology by 13.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock worth $137,000 after buying an additional 105 shares in the last quarter. BlueMountain Capital Management LLC purchased a new stake in Align Technology during the 2nd quarter worth approximately $148,000. Finally, Commonwealth Bank of Australia increased its stake in Align Technology by 10.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,129 shares of the medical equipment provider’s stock worth $169,000 after buying an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 83.91% of the company’s stock.
In related news, Director Greg J. Santora sold 7,700 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $238.95, for a total value of $1,839,915.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John Morici sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $255.00, for a total value of $382,500.00. Following the completion of the transaction, the chief financial officer now owns 1,544 shares in the company, valued at $393,720. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,849 shares of company stock worth $13,494,348. Insiders own 1.60% of the company’s stock.
Several equities research analysts have commented on the company. Robert W. Baird reiterated a “buy” rating and set a $290.00 price objective on shares of Align Technology in a research note on Wednesday, November 29th. Credit Suisse Group reiterated an “outperform” rating and set a $276.00 price objective (up from $261.00) on shares of Align Technology in a research note on Tuesday, November 28th. Morgan Stanley boosted their target price on Align Technology from $257.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, November 27th. Stifel Nicolaus boosted their target price on Align Technology from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, November 21st. Finally, Zacks Investment Research upgraded Align Technology from a “hold” rating to a “buy” rating and set a $227.00 target price on the stock in a report on Monday, October 30th. Eleven analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $235.55.
Align Technology, Inc. (NASDAQ:ALGN) opened at $233.01 on Thursday. The firm has a market capitalization of $18,229.20, a P/E ratio of 67.27, a PEG ratio of 2.17 and a beta of 1.43. Align Technology, Inc. has a twelve month low of $88.56 and a twelve month high of $266.41.
Align Technology (NASDAQ:ALGN) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.19. The business had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $359.80 million. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The business’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. research analysts forecast that Align Technology, Inc. will post 3.62 EPS for the current year.
ILLEGAL ACTIVITY WARNING: “Align Technology, Inc. (ALGN) Position Boosted by New York State Common Retirement Fund” was first reported by Stock Observer and is the property of of Stock Observer. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://www.thestockobserver.com/2017/12/07/align-technology-inc-algn-position-boosted-by-new-york-state-common-retirement-fund.html.
About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
Receive News & Ratings for Align Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.