South Dakota Investment Council Purchases 3,300 Shares of Align Technology, Inc. (NASDAQ:ALGN)

South Dakota Investment Council grew its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 412.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,100 shares of the medical equipment provider’s stock after buying an additional 3,300 shares during the quarter. South Dakota Investment Council’s holdings in Align Technology were worth $1,123,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ALGN. Huntington National Bank raised its holdings in shares of Align Technology by 94.9% in the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 56 shares during the period. Compagnie Lombard Odier SCmA bought a new stake in shares of Align Technology in the 3rd quarter worth approximately $61,000. Orion Capital Management LLC bought a new stake in shares of Align Technology in the 3rd quarter worth approximately $61,000. Operose Advisors LLC bought a new stake in Align Technology during the 3rd quarter valued at $63,000. Finally, Covestor Ltd raised its holdings in Align Technology by 379.5% during the 3rd quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock valued at $64,000 after acquiring an additional 167 shares during the period. Institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

ALGN opened at $313.78 on Thursday. The company has a fifty day moving average price of $313.37 and a 200-day moving average price of $270.52. The firm has a market capitalization of $23.61 billion, a P/E ratio of 53.91, a price-to-earnings-growth ratio of 5.59 and a beta of 1.65. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20.

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 net margin of 11.52% and a return on equity of 13.88%. The firm had revenue of $956.73 million during the quarter, compared to analyst estimates of $928.57 million. On average, analysts expect that Align Technology, Inc. will post 7.69 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALGN. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. The Goldman Sachs Group boosted their target price on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd. UBS Group boosted their target price on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Piper Sandler reissued an “overweight” rating and set a $375.00 target price (up previously from $355.00) on shares of Align Technology in a report on Thursday. Finally, Stifel Nicolaus boosted their target price on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and a consensus price target of $343.00.

Insider Buying and Selling

In related news, EVP Emory Wright sold 2,524 shares of the company’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 completion of the transaction, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Joseph Lacob sold 10,000 shares of the company’s 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 transaction, the director now directly owns 146,994 shares in the company, valued at $46,010,591.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction dated 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 $203,802.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,524 shares of company stock worth $8,403,924. Corporate insiders own 0.64% of the company’s stock.

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.