Bfsg LLC purchased a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,719 shares of the medical equipment provider’s stock, valued at approximately $258,000.

Several other large investors also recently bought and sold shares of the business. Polen Capital Management LLC increased its position in shares of Align Technology by 6.8% during the 2nd quarter. Polen Capital Management LLC now owns 3,362,570 shares of the medical equipment provider’s stock worth $504,789,000 after purchasing an additional 212,773 shares during the last quarter. Aberdeen Asset Management PLC UK acquired a new position in shares of Align Technology during the 2nd quarter worth approximately $1,981,000. Twin Tree Management LP acquired a new position in shares of Align Technology during the 2nd quarter worth approximately $494,000. AXA increased its position in shares of Align Technology by 1.2% during the 2nd quarter. AXA now owns 75,600 shares of the medical equipment provider’s stock worth $11,349,000 after purchasing an additional 900 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Align Technology by 7.0% during the 2nd quarter. Wells Fargo & Company MN now owns 779,378 shares of the medical equipment provider’s stock worth $117,000,000 after purchasing an additional 51,133 shares during the last quarter. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

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Align Technology, Inc. (ALGN) traded up 0.81% on Friday, hitting $181.44. The company had a trading volume of 566,345 shares. The stock has a 50 day moving average of $171.56 and a 200-day moving average of $140.51. Align Technology, Inc. has a one year low of $83.27 and a one year high of $181.99. The stock has a market capitalization of $14.54 billion, a PE ratio of 62.14 and a beta of 1.55.

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

Several research firms have weighed in on ALGN. Stifel Nicolaus reaffirmed a “buy” rating and set a $205.00 price target (up previously from $200.00) on shares of Align Technology in a research report on Monday, August 7th. Bank of America Corporation raised Align Technology from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $175.00 to $193.00 in a research report on Friday, July 28th. Leerink Swann reaffirmed an “outperform” rating and set a $199.00 price target (up previously from $194.00) on shares of Align Technology in a research report on Friday, July 28th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $176.00 price target on shares of Align Technology in a research report on Friday, July 28th. Finally, Zacks Investment Research lowered Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 21st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $174.40.

Align Technology Company Profile

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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