Acadian Asset Management LLC increased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2,561.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,373 shares of the medical equipment provider’s stock after buying an additional 7,096 shares during the period. Acadian Asset Management LLC’s holdings in Align Technology were worth $1,107,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ALGN. Mn Services Vermogensbeheer B.V. increased its position in shares of Align Technology by 2.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,917 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 52 shares during the last quarter. Diversified Trust Co bought a new position in shares of Align Technology during the first quarter valued at approximately $247,000. Navellier & Associates Inc increased its position in shares of Align Technology by 15.6% in the first quarter. Navellier & Associates Inc now owns 65,798 shares of the medical equipment provider’s stock valued at $7,548,000 after buying an additional 8,863 shares during the last quarter. Oakbrook Investments LLC increased its position in shares of Align Technology by 1.6% in the first quarter. Oakbrook Investments LLC now owns 6,350 shares of the medical equipment provider’s stock valued at $728,000 after buying an additional 100 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its position in shares of Align Technology by 1.1% in the first quarter. Conestoga Capital Advisors LLC now owns 326,081 shares of the medical equipment provider’s stock valued at $37,405,000 after buying an additional 3,556 shares during the last quarter. 87.13% of the stock is owned by institutional investors and hedge funds.

Shares of Align Technology, Inc. (NASDAQ ALGN) traded down 1.27% during trading on Thursday, reaching $173.53. 539,777 shares of the company were exchanged. Align Technology, Inc. has a one year low of $83.27 and a one year high of $176.84. The stock has a market capitalization of $13.91 billion, a PE ratio of 59.43 and a beta of 1.55. The stock has a 50-day moving average price of $158.19 and a 200-day moving average price of $128.81.

Align Technology (NASDAQ:ALGN) last posted its quarterly 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 net margin of 19.18% and a return on equity of 23.87%. The company had revenue of $356.50 million during the quarter, compared to analyst estimates of $343.43 million. During the same period in the prior year, the business posted $0.62 EPS. The firm’s revenue was up 32.3% compared to the same quarter last year. Analysts forecast that Align Technology, Inc. will post $3.40 EPS for the current year.

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Several equities analysts recently commented on the stock. Leerink Swann reissued an “outperform” rating and issued a $199.00 price objective (up previously from $194.00) on shares of Align Technology in a research note on Friday, July 28th. Stifel Nicolaus reissued a “buy” rating and issued a $205.00 price objective (up previously from $200.00) on shares of Align Technology in a research note on Monday. Bank of America Corporation raised shares of Align Technology from a “neutral” rating to a “buy” rating and increased their price objective for the company from $175.00 to $193.00 in a research note on Friday, July 28th. Piper Jaffray Companies reissued a “buy” rating and issued a $176.00 price objective on shares of Align Technology in a research note on Friday, July 28th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $182.00 price objective (up previously from $175.00) on shares of Align Technology in a research note on Monday, July 17th. Ten research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $174.40.

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