New York State Teachers Retirement System Sells 5,080 Shares of Align Technology, Inc. (NASDAQ:ALGN)

New York State Teachers Retirement System lowered its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,973 shares of the medical equipment provider's stock after selling 5,080 shares during the period. New York State Teachers Retirement System owned about 0.08% of Align Technology worth $13,131,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in Align Technology by 49.0% during the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider's stock valued at $670,031,000 after purchasing an additional 866,663 shares in the last quarter. Holocene Advisors LP acquired a new position in Align Technology in the third quarter worth $137,287,000. FMR LLC increased its stake in shares of Align Technology by 43.0% in the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider's stock valued at $310,736,000 after buying an additional 367,508 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Align Technology by 96.3% in the third quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider's stock valued at $171,493,000 after buying an additional 330,807 shares during the last quarter. Finally, Senvest Management LLC lifted its position in Align Technology by 76.4% during the 3rd quarter. Senvest Management LLC now owns 459,243 shares of the medical equipment provider's stock worth $116,795,000 after buying an additional 198,893 shares in the last quarter. Institutional investors own 88.43% of the company's stock.

Align Technology Stock Down 3.9 %

Align Technology stock traded down $7.63 during mid-day trading on Friday, hitting $190.43. 1,695,090 shares of the company's stock were exchanged, compared to its average volume of 820,444. The company's 50 day simple moving average is $215.05 and its 200-day simple moving average is $224.17. The firm has a market capitalization of $14.22 billion, a P/E ratio of 33.94, a PEG ratio of 2.38 and a beta of 1.67. Align Technology, Inc. has a fifty-two week low of $186.82 and a fifty-two week high of $335.40.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts' consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. Research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on ALGN. Robert W. Baird dropped their target price on shares of Align Technology from $325.00 to $276.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Mizuho assumed coverage on shares of Align Technology in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $295.00 price objective for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a report on Thursday, February 6th. Jefferies Financial Group lowered their target price on Align Technology from $285.00 to $260.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Finally, Morgan Stanley cut their price target on Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $269.91.

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.