Teacher Retirement System of Texas Has $5.83 Million Position in Align Technology, Inc. (ALGN)
Teacher Retirement System of Texas raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1,909.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,313 shares of the medical equipment provider’s stock after purchasing an additional 29,755 shares during the period. Teacher Retirement System of Texas’ holdings in Align Technology were worth $5,833,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of ALGN. Vanguard Group Inc. grew its holdings in Align Technology by 16.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock worth $1,095,740,000 after acquiring an additional 1,034,254 shares during the period. State Street Corp grew its holdings in Align Technology by 32.2% during the 2nd quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock worth $471,823,000 after acquiring an additional 765,189 shares during the period. Federated Investors Inc. PA grew its holdings in Align Technology by 794.9% during the 2nd quarter. Federated Investors Inc. PA now owns 685,086 shares of the medical equipment provider’s stock worth $102,846,000 after acquiring an additional 608,535 shares during the period. Janus Henderson Group PLC grew its holdings in Align Technology by 200.5% during the 2nd quarter. Janus Henderson Group PLC now owns 594,124 shares of the medical equipment provider’s stock worth $89,190,000 after acquiring an additional 396,426 shares during the period. Finally, Voya Investment Management LLC grew its holdings in Align Technology by 568.4% during the 2nd quarter. Voya Investment Management LLC now owns 441,451 shares of the medical equipment provider’s stock worth $66,271,000 after acquiring an additional 375,409 shares during the period. Hedge funds and other institutional investors own 80.86% of the company’s stock.
In related news, Director Greg J. Santora sold 7,700 shares of Align Technology stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total value of $1,839,915.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Julie Tay sold 3,500 shares of Align Technology stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $253.00, for a total transaction of $885,500.00. Following the completion of the sale, the vice president now directly owns 12,213 shares in the company, valued at approximately $3,089,889. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,600 shares of company stock worth $4,031,567. Insiders own 1.60% of the company’s stock.
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Align Technology, Inc. (NASDAQ ALGN) opened at $253.89 on Friday. Align Technology, Inc. has a 1 year low of $88.56 and a 1 year high of $257.60. The firm has a market cap of $20,356.39, a PE ratio of 75.12, a P/E/G ratio of 2.43 and a beta of 1.42.
Align Technology (NASDAQ:ALGN) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.19. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The firm had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $359.80 million. During the same quarter last year, the firm earned $0.63 EPS. The company’s quarterly revenue was up 38.3% compared to the same quarter last year. equities analysts predict that Align Technology, Inc. will post 3.62 earnings per share for the current year.
ALGN has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Align Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 21st. Stifel Nicolaus reiterated a “buy” rating and set a $225.00 price target (up from $205.00) on shares of Align Technology in a report on Thursday, October 19th. Morgan Stanley reiterated an “overweight” rating and set a $220.00 price target (up from $195.00) on shares of Align Technology in a report on Friday, October 6th. Northcoast Research reiterated a “buy” rating and set a $230.00 price target (up from $200.00) on shares of Align Technology in a report on Tuesday, October 10th. Finally, Credit Suisse Group restated a “positive” rating and issued a $261.00 target price (up from $209.00) on shares of Align Technology in a research note on Thursday, November 9th. Eleven research analysts have rated the stock with a buy rating, Align Technology has an average rating of “Buy” and a consensus price target of $219.18.
Align Technology Company Profile
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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