Employees Retirement System of Texas Buys 3,000 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Employees Retirement System of Texas grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 27.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,000 shares of the medical equipment provider’s stock after purchasing an additional 3,000 shares during the period. Employees Retirement System of Texas’ holdings in Align Technology were worth $8,554,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ALGN. Allred Capital Management LLC bought a new stake in shares of Align Technology during the 1st quarter valued at about $27,000. Atlas Capital Advisors LLC boosted its stake in Align Technology by 150.0% during the first quarter. Atlas Capital Advisors LLC now owns 50 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 30 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Align Technology by 226.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 49 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 34 shares in the last quarter. MBM Wealth Consultants LLC bought a new stake in Align Technology during the first quarter worth about $34,000. Finally, Stonebridge Capital Advisors LLC bought a new stake in Align Technology during the first quarter worth about $38,000. 83.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ALGN stock opened at $728.29 on Friday. Align Technology, Inc. has a 12 month low of $297.44 and a 12 month high of $735.17. The stock has a market cap of $57.54 billion, a P/E ratio of 82.95, a P/E/G ratio of 2.98 and a beta of 1.68. The company has a 50 day simple moving average of $681.65 and a two-hundred day simple moving average of $613.80.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Tuesday, July 27th. The medical equipment provider reported $3.04 EPS for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.91. Align Technology had a net margin of 20.10% and a return on equity of 21.42%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $942.26 million. On average, sell-side analysts predict that Align Technology, Inc. will post 9.1 earnings per share for the current year.

In other Align Technology news, SVP Julie Ann Coletti sold 782 shares of the company’s stock in a transaction that occurred on Wednesday, August 4th. The shares were sold at an average price of $710.00, for a total value of $555,220.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director C Raymond Larkin, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 28th. The stock was sold at an average price of $621.73, for a total transaction of $3,108,650.00. Following the completion of the transaction, the director now owns 26,210 shares of the company’s stock, valued at $16,295,543.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,186 shares of company stock valued at $18,568,508. 0.70% of the stock is owned by corporate insiders.

ALGN has been the topic of several research reports. Credit Suisse Group boosted their price objective on shares of Align Technology from $715.00 to $732.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. BNP Paribas assumed coverage on shares of Align Technology in a report on Thursday, July 8th. They issued an “outperform” rating and a $790.00 target price for the company. Piper Sandler lifted their target price on shares of Align Technology from $735.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th. Stephens raised shares of Align Technology from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $600.00 to $700.00 in a report on Friday, July 9th. Finally, William Blair reaffirmed an “outperform” rating on shares of Align Technology in a report on Thursday, July 29th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Align Technology presently has a consensus rating of “Buy” and a consensus target price of $680.71.

Align Technology Company Profile

Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of invisalign full, teen, and assist products, and vivera retainers for treating malocclusion.

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

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