United Capital Financial Advisers LLC grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,922 shares of the medical equipment provider’s stock after buying an additional 79 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Align Technology were worth $6,274,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its position in Align Technology by 4.4% in the 1st quarter. BlackRock Inc. now owns 7,239,770 shares of the medical equipment provider’s stock worth $2,058,482,000 after purchasing an additional 304,685 shares during the period. Edgewood Management LLC raised its position in Align Technology by 52.9% in the 2nd quarter. Edgewood Management LLC now owns 3,080,611 shares of the medical equipment provider’s stock worth $843,163,000 after purchasing an additional 1,066,376 shares during the period. Polen Capital Management LLC raised its position in Align Technology by 4.5% in the 2nd quarter. Polen Capital Management LLC now owns 2,603,337 shares of the medical equipment provider’s stock worth $712,533,000 after purchasing an additional 111,291 shares during the period. Renaissance Technologies LLC raised its position in Align Technology by 12.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,537,681 shares of the medical equipment provider’s stock worth $694,563,000 after purchasing an additional 277,681 shares during the period. Finally, Geode Capital Management LLC raised its position in Align Technology by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,057,392 shares of the medical equipment provider’s stock worth $221,101,000 after purchasing an additional 9,617 shares during the period. Hedge funds and other institutional investors own 88.26% of the company’s stock.

ALGN stock traded up $1.38 during mid-day trading on Monday, reaching $178.85. The company had a trading volume of 322,725 shares, compared to its average volume of 1,194,348. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.85 and a quick ratio of 1.74. The company has a market capitalization of $13.95 billion, a PE ratio of 36.35, a price-to-earnings-growth ratio of 1.44 and a beta of 2.02. The firm has a 50 day moving average of $183.79 and a 200 day moving average of $261.66. Align Technology, Inc. has a 12 month low of $169.84 and a 12 month high of $398.88.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.13. The business had revenue of $600.70 million for the quarter, compared to the consensus estimate of $599.86 million. Align Technology had a net margin of 19.06% and a return on equity of 29.26%. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 EPS. Analysts anticipate that Align Technology, Inc. will post 5 EPS for the current year.

In other news, Director Joseph Lacob sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $177.64, for a total transaction of $1,776,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Hogan acquired 4,995 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $199.83 per share, for a total transaction of $998,150.85. Following the completion of the purchase, the insider now owns 165,440 shares of the company’s stock, valued at approximately $33,059,875.20. The disclosure for this purchase can be found here. Insiders sold a total of 44,157 shares of company stock worth $7,976,448 over the last 90 days. Insiders own 1.30% of the company’s stock.

A number of research firms recently weighed in on ALGN. Zacks Investment Research lowered shares of Align Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Wolfe Research began coverage on shares of Align Technology in a research report on Thursday, May 30th. They issued a “peer perform” rating on the stock. ValuEngine raised shares of Align Technology from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Credit Suisse Group reduced their price objective on shares of Align Technology from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, BidaskClub lowered shares of Align Technology from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $297.91.

Align Technology Company Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

Further Reading: What is diluted earnings per share (Diluted EPS)?

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

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