Caxton Associates LP acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,900 shares of the medical equipment provider’s stock, valued at approximately $435,000.

Other large investors have also made changes to their positions in the company. UBS Asset Management Americas Inc. raised its stake in Align Technology by 40.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 182,595 shares of the medical equipment provider’s stock worth $20,945,000 after buying an additional 52,601 shares during the period. Neuberger Berman Group LLC raised its stake in Align Technology by 11.7% during the 1st quarter. Neuberger Berman Group LLC now owns 4,538 shares of the medical equipment provider’s stock worth $521,000 after buying an additional 474 shares during the period. Van ECK Associates Corp raised its stake in Align Technology by 6.9% during the 1st 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. Teachers Advisors LLC raised its stake in Align Technology by 4.9% during the 1st quarter. Teachers Advisors LLC now owns 70,197 shares of the medical equipment provider’s stock worth $8,052,000 after buying an additional 3,298 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Align Technology by 28.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,696 shares of the medical equipment provider’s stock worth $1,915,000 after buying an additional 3,673 shares during the period. 81.56% of the stock is currently owned by institutional investors.

Shares of Align Technology, Inc. (NASDAQ ALGN) opened at 192.622 on Friday. The stock has a 50 day moving average price of $183.48 and a 200 day moving average price of $154.25. Align Technology, Inc. has a 52 week low of $83.27 and a 52 week high of $194.84. The stock has a market capitalization of $15.44 billion, a P/E ratio of 65.966 and a beta of 1.54.

Align Technology (NASDAQ:ALGN) last released its earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $343.43 million. During the same period last year, the business earned $0.62 earnings per share. The business’s revenue was up 32.3% on a year-over-year basis. On average, equities research analysts expect that Align Technology, Inc. will post $3.41 EPS for the current year.

A number of research analysts recently weighed in on ALGN shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $176.00 price target on shares of Align Technology in a research note on Friday, July 28th. Bank of America Corporation raised Align Technology from a “neutral” rating to a “buy” rating and upped their price target for the stock from $175.00 to $193.00 in a research note on Friday, July 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $205.00 price target (up from $200.00) on shares of Align Technology in a research note on Monday, August 7th. Northcoast Research reaffirmed a “buy” rating and set a $186.00 price target (up from $164.00) on shares of Align Technology in a research note on Wednesday, June 21st. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Align Technology in a research note on Tuesday, September 12th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $193.20.

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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.

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

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