HL Financial Services LLC lifted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,137 shares of the medical equipment provider’s stock after acquiring an additional 158 shares during the period. HL Financial Services LLC’s holdings in Align Technology were worth $731,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Global X Management Co. LLC increased its holdings in shares of Align Technology by 20.7% during the first quarter. Global X Management Co. LLC now owns 2,895 shares of the medical equipment provider’s stock valued at $727,000 after acquiring an additional 496 shares in the last quarter. Ashfield Capital Partners LLC increased its holdings in shares of Align Technology by 0.6% during the first quarter. Ashfield Capital Partners LLC now owns 85,048 shares of the medical equipment provider’s stock valued at $21,358,000 after acquiring an additional 469 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Align Technology by 12.6% during the first quarter. Daiwa Securities Group Inc. now owns 2,603 shares of the medical equipment provider’s stock valued at $654,000 after acquiring an additional 292 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Align Technology by 114.2% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 48,271 shares of the medical equipment provider’s stock valued at $12,122,000 after acquiring an additional 25,731 shares in the last quarter. Finally, ARP Americas LP increased its holdings in shares of Align Technology by 116.3% during the first quarter. ARP Americas LP now owns 9,859 shares of the medical equipment provider’s stock valued at $2,476,000 after acquiring an additional 5,300 shares in the last quarter. 77.42% of the stock is owned by institutional investors.

Shares of Align Technology stock opened at $357.30 on Friday. Align Technology, Inc. has a 12-month low of $165.18 and a 12-month high of $385.00. The firm has a market cap of $29.28 billion, a P/E ratio of 91.85, a P/E/G ratio of 2.44 and a beta of 1.50.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.21. Align Technology had a return on equity of 32.61% and a net margin of 17.00%. The business had revenue of $490.26 million for the quarter, compared to analysts’ expectations of $472.10 million. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The business’s revenue was up 37.5% on a year-over-year basis. analysts forecast that Align Technology, Inc. will post 4.98 EPS for the current fiscal year.

In other Align Technology news, SVP Julie Tay sold 4,440 shares of the business’s stock in a transaction on Monday, May 21st. The stock was sold at an average price of $300.00, for a total value of $1,332,000.00. Following the transaction, the senior vice president now owns 13,176 shares of the company’s stock, valued at $3,952,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO John Morici sold 2,405 shares of the business’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $331.35, for a total value of $796,896.75. Following the completion of the transaction, the chief financial officer now directly owns 514 shares in the company, valued at approximately $170,313.90. The disclosure for this sale can be found here. In the last three months, insiders sold 59,445 shares of company stock worth $20,405,536. Insiders own 1.40% of the company’s stock.

ALGN has been the subject of several recent research reports. Zacks Investment Research downgraded Align Technology from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub upgraded Align Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 8th. Jefferies Financial Group upped their price target on Align Technology to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 24th. Leerink Swann upped their price target on Align Technology from $400.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $350.00 price target (up previously from $320.00) on shares of Align Technology in a report on Friday, June 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $353.79.

About Align Technology

Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.

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

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