Navellier & Associates Inc increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 4.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,761 shares of the medical equipment provider’s stock after purchasing an additional 2,963 shares during the quarter. Align Technology accounts for about 1.5% of Navellier & Associates Inc’s investment portfolio, making the stock its 8th largest holding. Navellier & Associates Inc owned about 0.09% of Align Technology worth $10,322,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. CENTRAL TRUST Co lifted its stake in Align Technology by 128.5% during the second quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock worth $105,000 after purchasing an additional 392 shares during the last quarter. Schroder Investment Management Group bought a new position in Align Technology during the second quarter worth $104,000. Bronfman E.L. Rothschild L.P. lifted its stake in Align Technology by 13.0% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock worth $137,000 after purchasing an additional 105 shares during the last quarter. BlueMountain Capital Management LLC bought a new position in Align Technology during the second quarter worth $148,000. Finally, Trust Co. of Vermont lifted its stake in Align Technology by 15.4% during the second quarter. Trust Co. of Vermont now owns 1,010 shares of the medical equipment provider’s stock worth $152,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 81.56% of the company’s stock.
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Align Technology, Inc. (ALGN) traded up 0.46% during midday trading on Tuesday, reaching $189.00. The company’s stock had a trading volume of 314,986 shares. The firm has a 50 day moving average price of $181.76 and a 200 day moving average price of $153.16. The firm has a market capitalization of $15.15 billion, a PE ratio of 64.73 and a beta of 1.54. Align Technology, Inc. has a 1-year low of $83.27 and a 1-year high of $191.78.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. The company 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 business’s revenue was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share. On average, analysts predict that Align Technology, Inc. will post $3.41 EPS for the current year.
Several equities analysts recently issued reports on ALGN shares. Morgan Stanley restated an “overweight” rating and set a $175.00 price objective on shares of Align Technology in a research note on Monday, June 19th. They noted that the move was a valuation call. Northcoast Research reiterated 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 reiterated 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 reiterated 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 equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Align Technology presently has an average rating of “Buy” and a consensus price target of $188.80.
Align Technology 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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