Illinois Municipal Retirement Fund Has $9.14 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Illinois Municipal Retirement Fund grew its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 20.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,344 shares of the medical equipment provider's stock after purchasing an additional 5,759 shares during the period. Illinois Municipal Retirement Fund's holdings in Align Technology were worth $9,136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALGN. HB Wealth Management LLC grew its position in Align Technology by 17.3% in the 3rd quarter. HB Wealth Management LLC now owns 1,053 shares of the medical equipment provider's stock worth $322,000 after purchasing an additional 155 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in shares of Align Technology by 22.3% in the 3rd quarter. Capital Investment Advisors LLC now owns 1,180 shares of the medical equipment provider's stock worth $360,000 after acquiring an additional 215 shares during the period. Flagship Harbor Advisors LLC lifted its stake in shares of Align Technology by 2.7% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,694 shares of the medical equipment provider's stock worth $517,000 after acquiring an additional 44 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of Align Technology by 3.1% in the 3rd quarter. DAVENPORT & Co LLC now owns 2,172 shares of the medical equipment provider's stock worth $663,000 after acquiring an additional 66 shares during the period. Finally, ARK Investment Management LLC lifted its stake in shares of Align Technology by 7.5% in the 3rd quarter. ARK Investment Management LLC now owns 8,506 shares of the medical equipment provider's stock worth $2,597,000 after acquiring an additional 591 shares during the period. Institutional investors own 88.43% of the company's stock.

Align Technology Stock Up 0.6 %

Shares of ALGN traded up $1.90 during mid-day trading on Wednesday, hitting $313.78. 1,103,904 shares of the company's stock were exchanged, compared to its average volume of 745,145. The firm has a fifty day moving average of $313.14 and a two-hundred day moving average of $270.22. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $413.20. The stock has a market cap of $23.61 billion, a price-to-earnings ratio of 53.91, a P/E/G ratio of 5.39 and a beta of 1.65.

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

Insider Transactions at Align Technology

In related news, EVP Emory Wright sold 2,524 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the sale, the director now directly owns 146,994 shares of the company's stock, valued at approximately $46,010,591.94. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Emory Wright sold 2,524 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the sale, the executive vice president now directly owns 709 shares of the company's stock, valued at $203,802.05. The disclosure for this sale can be found here. Insiders have sold a total of 27,524 shares of company stock worth $8,403,924 in the last 90 days. 0.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Align Technology from $197.00 to $225.00 and gave the stock a "sell" rating in a research note on Friday, February 2nd. Piper Sandler increased their target price on shares of Align Technology from $335.00 to $355.00 and gave the company an "overweight" rating in a research note on Thursday, March 14th. SVB Leerink assumed coverage on shares of Align Technology in a research report on Monday, February 26th. They issued a "market perform" rating and a $310.00 price target for the company. Stifel Nicolaus upped their price target 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. Finally, Leerink Partnrs restated a "market perform" rating on shares of Align Technology in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $344.45.

Align Technology Company 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.