Utah Retirement Systems increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 10.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,600 shares of the medical equipment provider’s stock after buying an additional 1,400 shares during the period. Utah Retirement Systems’ holdings in Align Technology were worth $2,191,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Honkamp Krueger Financial Services Inc. raised its stake in shares of Align Technology by 1.7% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 2,037 shares of the medical equipment provider’s stock worth $306,000 after buying an additional 34 shares during the period. Intellectus Partners LLC raised its stake in shares of Align Technology by 1.2% in the first quarter. Intellectus Partners LLC now owns 3,498 shares of the medical equipment provider’s stock worth $401,000 after buying an additional 41 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in shares of Align Technology by 2.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,917 shares of the medical equipment provider’s stock worth $206,000 after buying an additional 52 shares during the period. Security Asset Management raised its stake in shares of Align Technology by 0.5% in the second quarter. Security Asset Management now owns 12,735 shares of the medical equipment provider’s stock worth $1,912,000 after buying an additional 65 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Align Technology by 6.9% in the first quarter. Van ECK Associates Corp now owns 1,057 shares of the medical equipment provider’s stock worth $121,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.

Align Technology, Inc. (NASDAQ ALGN) opened at 176.38 on Friday. The stock has a 50 day moving average of $168.70 and a 200 day moving average of $138.24. The company has a market capitalization of $14.14 billion, a PE ratio of 60.40 and a beta of 1.55. Align Technology, Inc. has a 12-month low of $83.27 and a 12-month high of $179.76.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.12. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The firm had revenue of $356.50 million during the quarter, compared to the consensus estimate of $343.43 million. During the same period last year, the firm posted $0.62 EPS. The firm’s quarterly revenue was up 32.3% on a year-over-year basis. On average, equities research analysts predict that Align Technology, Inc. will post $3.40 EPS for the current year.

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A number of brokerages have recently issued reports on ALGN. Morgan Stanley restated an “overweight” rating and issued a $182.00 target price (up previously from $175.00) on shares of Align Technology in a research note on Monday, July 17th. Stifel Nicolaus restated a “buy” rating and issued a $205.00 target price (up previously from $200.00) on shares of Align Technology in a research note on Monday, August 7th. Credit Suisse Group restated an “outperform” rating and issued a $170.00 target price (up previously from $140.00) on shares of Align Technology in a research note on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and issued a $150.00 target price on shares of Align Technology in a research note on Thursday, June 1st. Finally, 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. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $174.40.

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.

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

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