California Public Employees Retirement System Has $25.94 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

California Public Employees Retirement System lessened its position in Align Technology, Inc. (NASDAQ:ALGN) by 4.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 124,414 shares of the medical equipment provider’s stock after selling 5,639 shares during the period. California Public Employees Retirement System owned about 0.17% of Align Technology worth $25,942,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in Align Technology by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock worth $56,870,000 after purchasing an additional 9,139 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Align Technology by 119.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider’s stock worth $35,368,000 after purchasing an additional 92,407 shares during the period. National Bank of Canada FI raised its position in Align Technology by 25.7% in the 3rd quarter. National Bank of Canada FI now owns 40,826 shares of the medical equipment provider’s stock valued at $10,383,000 after buying an additional 8,338 shares during the last quarter. Swedbank AB lifted its position in shares of Align Technology by 25.0% in the fourth quarter. Swedbank AB now owns 486,267 shares of the medical equipment provider’s stock worth $101,392,000 after purchasing an additional 97,152 shares in the last quarter. Finally, Principal Securities Inc. grew its holdings in shares of Align Technology by 34.5% in the 4th quarter. Principal Securities Inc. now owns 1,881 shares of the medical equipment provider’s stock valued at $392,000 after acquiring an additional 483 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on ALGN shares. Morgan Stanley dropped their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group cut their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Bank of America raised their price target on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Finally, Evercore ISI upped their price objective on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $262.64.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $154.24 on Friday. The company has a market capitalization of $11.35 billion, a P/E ratio of 27.49, a P/E/G ratio of 2.24 and a beta of 1.69. The business’s 50 day simple moving average is $188.04 and its 200 day simple moving average is $212.63. Align Technology, Inc. has a 1 year low of $150.80 and a 1 year high of $331.64.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. On average, sell-side analysts anticipate that Align Technology, Inc. will post 7.98 EPS 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.