Maryland State Retirement & Pension System Sells 163 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Maryland State Retirement & Pension System lessened its stake in Align Technology, Inc. (NASDAQ:ALGN) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,148 shares of the medical equipment provider’s stock after selling 163 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Align Technology were worth $865,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in Align Technology by 10,700.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Align Technology in the third quarter valued at about $32,000. Picton Mahoney Asset Management boosted its position in shares of Align Technology by 69.9% during the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 58 shares during the period. Private Trust Co. NA grew its holdings in shares of Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 93 shares in the last quarter. Finally, Quarry LP raised its position in Align Technology by 74.8% in the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 95 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ALGN shares. Evercore ISI lifted their price objective on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company started coverage on shares of Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 price target on the stock. Mizuho began coverage on Align Technology in a report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective for the company. Bank of America upped their target price on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Finally, Morgan Stanley decreased their price target on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and an average target price of $266.73.

Align Technology Price Performance

ALGN stock opened at $168.61 on Monday. Align Technology, Inc. has a one year low of $158.13 and a one year high of $331.64. The stock has a market cap of $12.41 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. The company has a fifty day moving average price of $198.78 and a two-hundred day moving average price of $216.53.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 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%. Research analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology 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.