Principal Financial Group Inc. Sells 4,984 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Principal Financial Group Inc. cut its holdings in shares of Align Technology, Inc. (NASDAQ:ALGNFree Report) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,730 shares of the medical equipment provider’s stock after selling 4,984 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of Align Technology worth $22,942,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. M&T Bank Corp increased its stake in Align Technology by 0.8% during the third quarter. M&T Bank Corp now owns 7,252 shares of the medical equipment provider’s stock valued at $2,215,000 after acquiring an additional 56 shares during the period. Duality Advisers LP acquired a new position in shares of Align Technology in the third quarter valued at $254,000. California Public Employees Retirement System lifted its position in Align Technology by 2.2% in the third quarter. California Public Employees Retirement System now owns 143,369 shares of the medical equipment provider’s stock worth $43,773,000 after purchasing an additional 3,051 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in Align Technology by 11.5% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,893 shares of the medical equipment provider’s stock worth $578,000 after buying an additional 195 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd raised its stake in shares of Align Technology by 1.9% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 3,814 shares of the medical equipment provider’s stock valued at $1,164,000 after buying an additional 72 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Align Technology

In other news, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the transaction, the director now owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ALGN shares. Stifel Nicolaus lifted their target price on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Morgan Stanley upped their price objective on Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Robert W. Baird raised their target price on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. Finally, The Goldman Sachs Group boosted their target price on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $353.00.

Get Our Latest Report on Align Technology

Align Technology Stock Down 1.5 %

Shares of NASDAQ ALGN opened at $267.44 on Tuesday. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The firm’s 50-day simple moving average is $304.54 and its 200 day simple moving average is $275.61. The company has a market cap of $20.13 billion, a price-to-earnings ratio of 44.06, a price-to-earnings-growth ratio of 4.99 and a beta of 1.66.

Align Technology (NASDAQ:ALGNGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.54 by $0.08. The business had revenue of $997.43 million for the quarter, compared to analysts’ expectations of $971.97 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. On average, equities analysts expect that Align Technology, Inc. will post 7.92 earnings per share for the current year.

Align Technology Company Profile

(Free Report)

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.

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

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