Bronfman E.L. Rothschild L.P. boosted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 13.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 912 shares of the medical equipment provider’s stock after purchasing an additional 105 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Align Technology were worth $137,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in Align Technology by 36.7% during the first quarter. AQR Capital Management LLC now owns 94,715 shares of the medical equipment provider’s stock worth $10,865,000 after purchasing an additional 25,422 shares during the period. Stifel Financial Corp raised its stake in Align Technology by 11.6% during the first quarter. Stifel Financial Corp now owns 75,393 shares of the medical equipment provider’s stock worth $8,643,000 after purchasing an additional 7,834 shares during the period. Karp Capital Management Corp purchased a new position in Align Technology during the first quarter worth approximately $2,620,000. American Century Companies Inc. raised its stake in Align Technology by 2,236.0% during the second quarter. American Century Companies Inc. now owns 221,009 shares of the medical equipment provider’s stock worth $33,178,000 after purchasing an additional 211,548 shares during the period. Finally, Chevy Chase Trust Holdings Inc. purchased a new position in Align Technology during the second quarter worth approximately $9,854,000. 81.72% of the stock is currently owned by institutional investors.
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Align Technology, Inc. (ALGN) traded up 0.13% during midday trading on Friday, reaching $185.10. 243,692 shares of the company traded hands. Align Technology, Inc. has a 12 month low of $83.27 and a 12 month high of $186.10. The firm has a 50 day moving average of $174.44 and a 200-day moving average of $142.87. The stock has a market capitalization of $14.84 billion, a price-to-earnings ratio of 63.39 and a beta of 1.55.
Align Technology (NASDAQ:ALGN) last released its earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.12. The firm had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $343.43 million. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The business’s quarterly revenue was up 32.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. Analysts forecast that Align Technology, Inc. will post $3.40 EPS for the current fiscal year.
A number of equities analysts have weighed in on ALGN shares. Zacks Investment Research downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 21st. Morgan Stanley reissued 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. Leerink Swann raised their target price on shares of Align Technology from $149.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday, June 26th. Bank of America Corporation raised shares of Align Technology from a “neutral” rating to a “buy” rating and raised their target price for the company from $175.00 to $193.00 in a research note on Friday, July 28th. Finally, Northcoast Research reissued a “buy” rating and issued a $186.00 target price (up previously from $164.00) on shares of Align Technology in a research note on Wednesday, June 21st. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $179.82.
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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