Louisiana State Employees Retirement System Takes Position in Align Technology, Inc. (NASDAQ:ALGN)

Louisiana State Employees Retirement System purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the 4th quarter, HoldingsChannel reports. The firm purchased 4,300 shares of the medical equipment provider’s stock, valued at approximately $1,178,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cerity Partners LLC grew its position in shares of Align Technology by 21.2% in the fourth quarter. Cerity Partners LLC now owns 100,510 shares of the medical equipment provider’s stock valued at $27,539,000 after purchasing an additional 17,556 shares during the last quarter. Impax Asset Management Group plc grew its position in shares of Align Technology by 65.0% in the fourth quarter. Impax Asset Management Group plc now owns 114,369 shares of the medical equipment provider’s stock valued at $31,337,000 after purchasing an additional 45,070 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Align Technology by 67.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 1,679 shares of the medical equipment provider’s stock valued at $460,000 after purchasing an additional 679 shares during the last quarter. HBK Sorce Advisory LLC grew its position in shares of Align Technology by 26.1% in the fourth quarter. HBK Sorce Advisory LLC now owns 1,597 shares of the medical equipment provider’s stock valued at $438,000 after purchasing an additional 331 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Align Technology in the fourth quarter valued at about $141,140,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Trading Up 0.6 %

NASDAQ ALGN opened at $300.82 on Tuesday. The stock’s 50 day moving average is $312.75 and its two-hundred day moving average is $270.03. The company has a market capitalization of $22.64 billion, a price-to-earnings ratio of 51.69, a PEG ratio of 5.35 and a beta of 1.65. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. The company had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. On average, analysts predict that Align Technology, Inc. will post 7.69 earnings per share for the current year.

Insider Buying and Selling at Align Technology

In other news, Director Joseph Lacob sold 15,000 shares of Align Technology stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the transaction, the director now owns 131,994 shares in the company, valued at $40,023,220.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the transaction, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Lacob sold 15,000 shares of Align Technology stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the completion of the transaction, the director now owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,524 shares of company stock valued at $8,403,924. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ALGN shares. The Goldman Sachs Group lifted their target price on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Stifel Nicolaus lifted their target price on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Piper Sandler lifted their target price on Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Finally, UBS Group lifted their target price on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $344.45.

About Align Technology

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.