Public Employees Retirement System of Ohio Purchases Shares of 22,891 Align Technology, Inc. $ALGN

Public Employees Retirement System of Ohio purchased a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,891 shares of the medical equipment provider’s stock, valued at approximately $3,861,000.

Several other hedge funds have also made changes to their positions in ALGN. Sunbelt Securities Inc. grew its position in shares of Align Technology by 222.4% in the fourth quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 109 shares during the period. Blue Trust Inc. boosted its stake in Align Technology by 77.5% in the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 69 shares during the last quarter. Tobam acquired a new stake in Align Technology in the 4th quarter worth about $30,000. Hollencrest Capital Management purchased a new stake in Align Technology in the 1st quarter valued at about $34,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Align Technology by 1,773.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 281 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 266 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Up 0.4%

ALGN opened at $159.85 on Friday. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $200.43. The company has a 50 day moving average of $171.91 and a two-hundred day moving average of $174.11. The company has a market cap of $11.45 billion, a P/E ratio of 27.80, a P/E/G ratio of 1.69 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.02. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm posted $2.49 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts anticipate that Align Technology, Inc. will post 9.38 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ALGN shares. BMO Capital Markets started coverage on shares of Align Technology in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 target price on the stock. UBS Group reaffirmed a “neutral” rating and set a $189.00 price target on shares of Align Technology in a research report on Thursday, July 23rd. Zacks Research lowered shares of Align Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 16th. Wall Street Zen cut shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.36.

About Align Technology

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.