New York State Teachers Retirement System Grows Holdings in Align Technology, Inc. (ALGN)

New York State Teachers Retirement System grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,272 shares of the medical equipment provider’s stock after buying an additional 5,490 shares during the quarter. New York State Teachers Retirement System owned 0.16% of Align Technology worth $24,266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Align Technology by 16.5% during the second quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock worth $1,095,740,000 after buying an additional 1,034,254 shares during the period. Polen Capital Management LLC boosted its stake in shares of Align Technology by 6.8% in the second quarter. Polen Capital Management LLC now owns 3,362,570 shares of the medical equipment provider’s stock valued at $504,789,000 after purchasing an additional 212,773 shares during the period. State Street Corp boosted its stake in shares of Align Technology by 32.2% in the second quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock valued at $471,823,000 after purchasing an additional 765,189 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Align Technology by 11.3% in the second quarter. Renaissance Technologies LLC now owns 1,587,681 shares of the medical equipment provider’s stock valued at $238,343,000 after purchasing an additional 160,881 shares during the period. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in shares of Align Technology by 35.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 968,086 shares of the medical equipment provider’s stock valued at $145,329,000 after purchasing an additional 255,000 shares during the period. Institutional investors own 80.96% of the company’s stock.

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Several research analysts have recently weighed in on ALGN shares. Credit Suisse Group restated an “outperform” rating and issued a $170.00 target price (up from $140.00) on shares of Align Technology in a research note on Thursday, July 13th. Morgan Stanley restated an “overweight” rating and issued a $182.00 target price (up from $175.00) on shares of Align Technology in a research note on Monday, July 17th. Bank of America Corporation upgraded shares of Align Technology from a “neutral” rating to a “buy” rating and upped their target price for the company from $175.00 to $193.00 in a research note on Friday, July 28th. Piper Jaffray Companies restated a “buy” rating and issued a $176.00 target price on shares of Align Technology in a research note on Friday, July 28th. Finally, Leerink Swann restated an “outperform” rating and issued a $199.00 target price (up from $194.00) on shares of Align Technology in a research note on Friday, July 28th. Eleven equities research analysts have rated the stock with a buy rating, Align Technology has an average rating of “Buy” and an average target price of $214.45.

Shares of Align Technology, Inc. (ALGN) opened at $241.35 on Friday. The stock has a market cap of $19,350.96, a price-to-earnings ratio of 71.41, a P/E/G ratio of 2.35 and a beta of 1.42. Align Technology, Inc. has a twelve month low of $85.56 and a twelve month high of $244.60.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.19. The firm had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The firm’s quarterly revenue was up 38.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. research analysts predict that Align Technology, Inc. will post 3.56 EPS for the current fiscal year.

In related news, Director Greg J. Santora sold 7,700 shares of the company’s stock in a transaction 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 can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

About Align Technology

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.

Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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