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

Illinois Municipal Retirement Fund boosted its position in Align Technology, Inc. (NASDAQ:ALGN) by 20.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,344 shares of the medical equipment provider’s stock after buying an additional 5,759 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Align Technology were worth $9,136,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALGN. Deepwater Asset Management LLC grew its stake in Align Technology by 46.8% in the fourth quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock valued at $13,421,000 after purchasing an additional 15,608 shares in the last quarter. London & Capital Asset Management Ltd boosted its stake in shares of Align Technology by 7.1% during the 4th quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock worth $15,899,000 after acquiring an additional 3,843 shares during the period. Morgan Stanley boosted its stake in shares of Align Technology by 9.8% during the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock worth $310,866,000 after acquiring an additional 90,581 shares during the period. Country Trust Bank boosted its stake in shares of Align Technology by 27.7% during the 4th quarter. Country Trust Bank now owns 80,830 shares of the medical equipment provider’s stock worth $22,147,000 after acquiring an additional 17,515 shares during the period. Finally, Factory Mutual Insurance Co. boosted its stake in shares of Align Technology by 26.3% during the 4th quarter. Factory Mutual Insurance Co. now owns 143,293 shares of the medical equipment provider’s stock worth $39,262,000 after acquiring an additional 29,800 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ALGN. Piper Sandler lifted their price objective on Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. UBS Group lifted their price objective on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Stifel Nicolaus boosted their price target on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, SVB Leerink initiated coverage on Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $344.45.

Insider Activity at Align Technology

In related news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the transaction, the director now directly owns 146,994 shares in the company, valued at $46,010,591.94. 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. Corporate insiders own 0.72% of the company’s stock.

Align Technology Trading Up 3.7 %

NASDAQ ALGN opened at $311.88 on Wednesday. The business’s 50-day moving average price is $313.14 and its two-hundred day moving average price is $270.22. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $413.20. The firm has a market capitalization of $23.47 billion, a PE ratio of 53.59, a price-to-earnings-growth ratio of 5.39 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. The firm had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. As a group, analysts forecast that Align Technology, Inc. will post 7.69 earnings per share for the current fiscal year.

Align Technology 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.