Advisory Services Network LLC increased its position in Align Technology, Inc. (NASDAQ:ALGN) by 8.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,942 shares of the medical equipment provider’s stock after buying an additional 619 shares during the period. Advisory Services Network LLC’s holdings in Align Technology were worth $1,192,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Honkamp Krueger Financial Services Inc. grew its stake in shares of Align Technology by 1.7% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 2,037 shares of the medical equipment provider’s stock valued at $306,000 after buying an additional 34 shares during the period. Buckingham Asset Management LLC grew its stake in shares of Align Technology by 3.3% in the 2nd quarter. Buckingham Asset Management LLC now owns 1,861 shares of the medical equipment provider’s stock valued at $279,000 after buying an additional 59 shares during the period. Security Asset Management grew its stake in shares of Align Technology by 0.5% in the 2nd quarter. Security Asset Management now owns 12,735 shares of the medical equipment provider’s stock valued at $1,912,000 after buying an additional 65 shares during the period. BB&T Securities LLC grew its stake in shares of Align Technology by 3.5% in the 2nd quarter. BB&T Securities LLC now owns 2,757 shares of the medical equipment provider’s stock valued at $413,000 after buying an additional 94 shares during the period. Finally, Wrapmanager Inc. grew its stake in shares of Align Technology by 2.6% in the 2nd quarter. Wrapmanager Inc. now owns 3,835 shares of the medical equipment provider’s stock valued at $576,000 after buying an additional 99 shares during the period. Institutional investors own 81.53% of the company’s stock.

Several analysts have recently commented on ALGN shares. Morgan Stanley restated an “overweight” rating and issued a $175.00 target price on shares of Align Technology in a research note on Monday, June 19th. They noted that the move was a valuation call. Northcoast Research restated a “buy” rating and issued a $186.00 target price (up from $164.00) on shares of Align Technology in a research note on Wednesday, June 21st. Stifel Nicolaus restated a “buy” rating and issued a $200.00 target price (up from $145.00) on shares of Align Technology in a research note on Friday, June 23rd. Leerink Swann raised their target price on Align Technology from $149.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday, June 26th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $170.00 target price (up from $140.00) on shares of Align Technology in a research note on Thursday, July 13th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Align Technology presently has a consensus rating of “Buy” and an average target price of $193.20.

Align Technology, Inc. (NASDAQ:ALGN) traded up 0.71% during trading on Monday, reaching $194.18. The company’s stock had a trading volume of 332,386 shares. The firm has a market cap of $15.56 billion, a PE ratio of 66.50 and a beta of 1.54. Align Technology, Inc. has a one year low of $83.27 and a one year high of $195.52. The company has a 50-day moving average of $184.32 and a 200 day moving average of $155.40.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $356.50 million during the quarter, compared to the consensus estimate of $343.43 million. During the same quarter last year, the firm earned $0.62 earnings per share. The business’s revenue for the quarter was up 32.3% on a year-over-year basis. Analysts expect that Align Technology, Inc. will post $3.41 EPS for the current fiscal year.

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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.

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

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