California Public Employees Retirement System Sells 5,639 Shares of Align Technology, Inc. (NASDAQ:ALGN)

California Public Employees Retirement System decreased its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 124,414 shares of the medical equipment provider's stock after selling 5,639 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Align Technology worth $25,942,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ALGN. Neo Ivy Capital Management acquired a new stake in shares of Align Technology in the 3rd quarter worth approximately $32,000. Picton Mahoney Asset Management boosted its stake in Align Technology by 69.9% during the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock valued at $30,000 after purchasing an additional 58 shares in the last quarter. Private Trust Co. NA increased its position in shares of Align Technology by 113.4% during the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 93 shares during the period. Quarry LP raised its stake in shares of Align Technology by 74.8% in the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider's stock worth $56,000 after buying an additional 95 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock valued at $48,000 after buying an additional 157 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on ALGN shares. Morgan Stanley dropped their price target on shares of Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Bank of America boosted their target price on shares of Align Technology from $200.00 to $206.00 and gave the stock an "underperform" rating in a report on Friday, December 13th. Leerink Partnrs upgraded shares of Align Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Jefferies Financial Group dropped their price target on Align Technology from $285.00 to $260.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. Finally, Mizuho reduced their price objective on Align Technology from $295.00 to $250.00 and set an "outperform" rating for the company in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Align Technology currently has a consensus rating of "Moderate Buy" and an average price target of $262.64.

Align Technology Price Performance

Align Technology stock traded down $0.22 during mid-day trading on Tuesday, hitting $153.14. The company's stock had a trading volume of 234,620 shares, compared to its average volume of 846,619. Align Technology, Inc. has a 52-week low of $143.00 and a 52-week high of $331.64. The firm's 50 day moving average is $184.92 and its 200 day moving average is $210.65. The company has a market cap of $11.21 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly 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%. As a group, analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

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.