Affinity Investment Advisors LLC bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,739 shares of the medical equipment provider’s stock, valued at approximately $2,187,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. IFP Advisors Inc boosted its position in Align Technology by 6.5% during the third quarter. IFP Advisors Inc now owns 12,539 shares of the medical equipment provider’s stock worth $2,336,000 after acquiring an additional 769 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Align Technology during the third quarter worth approximately $9,975,000. New York State Teachers Retirement System boosted its position in Align Technology by 4.4% during the third quarter. New York State Teachers Retirement System now owns 130,272 shares of the medical equipment provider’s stock worth $24,266,000 after acquiring an additional 5,490 shares during the last quarter. Brightworth acquired a new stake in Align Technology during the third quarter worth approximately $755,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Align Technology during the third quarter worth approximately $2,875,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.19. The firm had revenue of $385.30 million during the quarter, compared to analysts’ expectations of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The company’s revenue was up 38.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share.

In other Align Technology news, Director Greg J. Santora sold 7,700 shares of Align Technology stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total value of $1,839,915.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

A number of brokerages recently issued reports on ALGN. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 target price on the stock in a research report on Monday. Stifel Nicolaus increased their price target on shares of Align Technology from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 23rd. Robert W. Baird reaffirmed a “buy” rating and set a $245.00 price target on shares of Align Technology in a research note on Friday, October 27th. Leerink Swann reaffirmed an “outperform” rating and set a $250.00 price target on shares of Align Technology in a research note on Friday, October 27th. Finally, Credit Suisse Group increased their price target on shares of Align Technology from $175.00 to $209.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Eleven equities research analysts have rated the stock with a buy rating, Align Technology has an average rating of “Buy” and an average price target of $214.45.

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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.

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

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