California State Teachers Retirement System cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,822 shares of the medical equipment provider's stock after selling 471 shares during the quarter. California State Teachers Retirement System owned 0.11% of Align Technology worth $13,294,119 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Align Technology in the second quarter worth about $745,370,000. Capital International Investors boosted its holdings in shares of Align Technology by 52.2% in the 4th quarter. Capital International Investors now owns 4,643,221 shares of the medical equipment provider's stock valued at $725,039,000 after buying an additional 1,592,848 shares in the last quarter. Capital World Investors raised its stake in shares of Align Technology by 13.2% during the 4th quarter. Capital World Investors now owns 1,490,503 shares of the medical equipment provider's stock worth $232,742,000 after buying an additional 173,641 shares in the last quarter. Ruane Cunniff & Goldfarb L.P. purchased a new position in shares of Align Technology during the 4th quarter worth $190,899,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Align Technology by 4.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,054,633 shares of the medical equipment provider's stock worth $180,796,000 after acquiring an additional 49,220 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company's stock.
Align Technology Price Performance
Align Technology stock traded down $4.67 during trading hours on Tuesday, hitting $148.33. The stock had a trading volume of 343,048 shares, compared to its average volume of 1,070,260. The stock has a market capitalization of $10.62 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.60 and a beta of 1.65. The stock's fifty day moving average is $168.28 and its two-hundred day moving average is $172.47. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $200.43.
Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, beating the consensus estimate of $2.62 by $0.02. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the business earned $2.49 earnings per share. Align Technology's revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Align Technology, Inc. will post 9.38 EPS for the current year.
Analysts Set New Price Targets
ALGN has been the subject of several research reports. UBS Group restated a "neutral" rating and set a $189.00 price target on shares of Align Technology in a report on Thursday, July 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a research note on Thursday, July 30th. BMO Capital Markets started coverage on Align Technology in a research note on Wednesday, July 8th. They set an "outperform" rating and a $209.00 price target for the company. Wall Street Zen downgraded shares of Align Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Finally, Weiss Ratings upgraded shares of Align Technology from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Align Technology has an average rating of "Moderate Buy" and an average target price of $206.36.
Read Our Latest Analysis on Align Technology
Align Technology Profile
(
Free Report)
Align Technology, Inc NASDAQ: ALGN is a global medical device company that designs, manufactures and markets products used in orthodontics and digital dentistry. Its best-known product is the Invisalign system, a series of clear, removable aligners intended to gradually straighten teeth and address certain orthodontic conditions under the supervision of dental professionals.
The company also develops digital dentistry technologies, including iTero intraoral scanners and related software, which create digital impressions and support orthodontic, restorative and implant treatment planning.
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