Proficio Capital Partners LLC Holds Stake in Align Technology, Inc. (ALGN)

Proficio Capital Partners LLC maintained its position in Align Technology, Inc. (NASDAQ:ALGN) during the second quarter, Holdings Channel reports. The fund owned 1,589 shares of the medical equipment provider’s stock at the end of the second quarter. Proficio Capital Partners LLC’s holdings in Align Technology were worth $267,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Align Technology by 5,738.0% in the first quarter. BlackRock Inc. now owns 6,640,531 shares of the medical equipment provider’s stock worth $761,737,000 after buying an additional 6,526,784 shares in the last quarter. Kylin Management LLC bought a new position in shares of Align Technology during the first quarter valued at approximately $35,767,000. Russell Investments Group Ltd. increased its position in shares of Align Technology by 63.3% in the first quarter. Russell Investments Group Ltd. now owns 781,138 shares of the medical equipment provider’s stock valued at $89,612,000 after buying an additional 302,700 shares during the period. Janus Capital Management LLC increased its position in shares of Align Technology by 129.8% in the first quarter. Janus Capital Management LLC now owns 440,000 shares of the medical equipment provider’s stock valued at $50,473,000 after buying an additional 248,567 shares during the period. Finally, Polen Capital Management LLC increased its position in shares of Align Technology by 8.5% in the first quarter. Polen Capital Management LLC now owns 3,149,797 shares of the medical equipment provider’s stock valued at $361,313,000 after buying an additional 248,095 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Shares of Align Technology, Inc. (NASDAQ ALGN) opened at 169.36 on Friday. The company has a market capitalization of $13.57 billion, a PE ratio of 58.00 and a beta of 1.55. The stock has a 50 day moving average price of $162.15 and a 200 day moving average price of $132.07. Align Technology, Inc. has a 52-week low of $83.27 and a 52-week high of $179.76.

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

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Several equities analysts have commented on the company. Stifel Nicolaus reiterated a “buy” rating and set a $205.00 price target (up previously from $200.00) on shares of Align Technology in a report on Monday, August 7th. Bank of America Corporation upgraded Align Technology from a “neutral” rating to a “buy” rating and increased their price target for the company from $175.00 to $193.00 in a report on Friday, July 28th. Leerink Swann reiterated an “outperform” rating and set a $199.00 price target (up previously from $194.00) on shares of Align Technology in a report on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and set a $150.00 price target (up previously from $110.00) on shares of Align Technology in a report on Saturday, April 29th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $176.00 price target on shares of Align Technology in a report on Friday, July 28th. Ten investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $174.40.

In related news, VP Sreelakshmi Kolli sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $144.00, for a total transaction of $144,000.00. Following the transaction, the vice president now directly owns 23,785 shares of the company’s stock, valued at approximately $3,425,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Lacob sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $144.98, for a total value of $7,249,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 54,874 shares of company stock worth $7,950,701 over the last three months. 2.00% of the stock is owned by insiders.

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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