Texas Permanent School Fund Corp Reduces Holdings in Align Technology, Inc. $ALGN

Texas Permanent School Fund Corp decreased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 41.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,529 shares of the medical equipment provider’s stock after selling 3,214 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Align Technology were worth $857,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc boosted its position in Align Technology by 4.9% during the second quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock worth $298,000 after purchasing an additional 74 shares during the period. IFP Advisors Inc raised its position in shares of Align Technology by 5.7% in the second quarter. IFP Advisors Inc now owns 1,427 shares of the medical equipment provider’s stock valued at $270,000 after purchasing an additional 77 shares during the period. Rothschild Investment LLC lifted its stake in shares of Align Technology by 140.3% during the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 87 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Align Technology by 42.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider’s stock worth $59,000 after buying an additional 92 shares during the period. Finally, Royal London Asset Management Ltd. boosted its holdings in Align Technology by 0.3% in the 2nd quarter. Royal London Asset Management Ltd. now owns 31,629 shares of the medical equipment provider’s stock worth $5,988,000 after buying an additional 93 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on ALGN shares. Wells Fargo & Company dropped their target price on Align Technology from $199.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Stifel Nicolaus set a $200.00 price objective on Align Technology in a research note on Thursday, October 30th. Evercore ISI cut their target price on Align Technology from $220.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, November 25th. Leerink Partners upped their price target on Align Technology from $172.00 to $189.00 in a research report on Thursday, October 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $172.18.

Align Technology Price Performance

Shares of ALGN opened at $156.45 on Friday. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $237.23. The company has a market capitalization of $11.22 billion, a P/E ratio of 30.32, a P/E/G ratio of 1.92 and a beta of 1.86. The firm’s 50 day simple moving average is $145.69 and its 200 day simple moving average is $153.77.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The company had revenue of $995.69 million during the quarter, compared to the consensus estimate of $980.75 million. During the same period in the previous year, the firm posted $2.35 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.