Aperio Group LLC raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 35.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,926 shares of the medical equipment provider’s stock after buying an additional 8,084 shares during the period. Aperio Group LLC’s holdings in Align Technology were worth $4,643,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Stifel Financial Corp increased its position in shares of Align Technology by 11.6% in the first quarter. Stifel Financial Corp now owns 75,393 shares of the medical equipment provider’s stock valued at $8,643,000 after buying an additional 7,834 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of Align Technology during the first quarter valued at approximately $2,620,000. AQR Capital Management LLC increased its position in shares of Align Technology by 36.7% in the first quarter. AQR Capital Management LLC now owns 94,715 shares of the medical equipment provider’s stock valued at $10,865,000 after buying an additional 25,422 shares during the last quarter. Profund Advisors LLC increased its position in shares of Align Technology by 6.8% in the first quarter. Profund Advisors LLC now owns 11,547 shares of the medical equipment provider’s stock valued at $1,325,000 after buying an additional 738 shares during the last quarter. Finally, 1st Global Advisors Inc. acquired a new position in shares of Align Technology during the first quarter valued at approximately $205,000. Institutional investors and hedge funds own 87.34% of the company’s stock.
Align Technology, Inc. (NASDAQ:ALGN) traded up 1.44% during midday trading on Tuesday, hitting $169.64. The company had a trading volume of 532,501 shares. The firm has a market capitalization of $13.60 billion, a P/E ratio of 58.10 and a beta of 1.53. The company has a 50 day moving average price of $152.97 and a 200 day moving average price of $125.34. Align Technology, Inc. has a 1-year low of $83.27 and a 1-year high of $173.79.
Align Technology (NASDAQ:ALGN) last posted its earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.12. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The firm had revenue of $356.50 million for the quarter, compared to analysts’ expectations of $343.43 million. During the same period last year, the firm earned $0.62 EPS. The company’s quarterly revenue was up 32.3% on a year-over-year basis. Equities research analysts forecast that Align Technology, Inc. will post $3.27 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Align Technology, Inc. (NASDAQ:ALGN) Shares Bought by Aperio Group LLC” was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this report on another website, it was stolen and reposted in violation of US & international copyright laws. The legal version of this report can be viewed at https://stocknewstimes.com/2017/08/01/align-technology-inc-nasdaqalgn-shares-bought-by-aperio-group-llc.html.
Several equities analysts have recently commented on ALGN shares. Morgan Stanley restated an “overweight” rating and issued a $175.00 price objective on shares of Align Technology in a research report on Monday, June 19th. They noted that the move was a valuation call. Leerink Swann boosted their price objective on Align Technology from $149.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, June 26th. Northcoast Research restated a “buy” rating and issued a $186.00 price objective (up from $164.00) on shares of Align Technology in a research report on Wednesday, June 21st. Robert W. Baird upgraded Align Technology from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $105.00 to $155.00 in a research report on Friday, April 28th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $150.00 price objective on shares of Align Technology in a research report on Thursday, June 1st. Ten equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $173.90.
In related news, VP Sreelakshmi Kolli sold 1,000 shares of Align Technology stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $144.00, for a total value of $144,000.00. Following the sale, the vice president now directly owns 23,785 shares in the company, valued at approximately $3,425,040. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Lacob sold 50,000 shares of Align Technology stock in a transaction dated 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. Over the last quarter, insiders sold 54,874 shares of company stock worth $7,950,701. 2.00% of the stock is currently 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.
Receive News & Ratings for Align Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
