Align Technology, Inc. (ALGN) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 27.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 544,613 shares of the medical equipment provider’s stock after purchasing an additional 116,656 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.68% of Align Technology worth $81,757,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ALGN. UBS Asset Management Americas Inc. increased its position in Align Technology by 40.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 182,595 shares of the medical equipment provider’s stock worth $20,945,000 after purchasing an additional 52,601 shares in the last quarter. Neuberger Berman Group LLC increased its position in Align Technology by 11.7% during the 1st quarter. Neuberger Berman Group LLC now owns 4,538 shares of the medical equipment provider’s stock worth $521,000 after purchasing an additional 474 shares in the last quarter. BB&T Securities LLC acquired a new stake in Align Technology during the 1st quarter worth approximately $305,000. Credit Agricole S A increased its position in Align Technology by 46.1% during the 1st quarter. Credit Agricole S A now owns 57,174 shares of the medical equipment provider’s stock worth $6,558,000 after purchasing an additional 18,029 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Align Technology by 6.9% during the 1st quarter. Van ECK Associates Corp now owns 1,057 shares of the medical equipment provider’s stock worth $121,000 after purchasing an additional 68 shares in the last quarter. 81.57% of the stock is owned by hedge funds and other institutional investors.

Shares of Align Technology, Inc. (ALGN) traded up 0.23% during mid-day trading on Friday, reaching $187.04. 1,104,528 shares of the company’s stock traded hands. The company has a market capitalization of $14.99 billion, a P/E ratio of 64.05 and a beta of 1.54. The firm has a 50-day moving average price of $181.20 and a 200-day moving average price of $152.02. Align Technology, Inc. has a 1-year low of $83.27 and a 1-year high of $191.78.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $343.43 million. During the same period in the previous year, the company earned $0.62 EPS. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. On average, equities research analysts forecast that Align Technology, Inc. will post $3.40 earnings per share for the current fiscal year.

A number of analysts recently issued reports on ALGN shares. Piper Jaffray Companies reissued a “buy” rating and set a $176.00 target price on shares of Align Technology in a research report on Friday, July 28th. Bank of America Corporation raised shares of Align Technology from a “neutral” rating to a “buy” rating and increased their target price for the stock from $175.00 to $193.00 in a research report on Friday, July 28th. Stifel Nicolaus reissued a “buy” rating and set a $205.00 target price (up previously from $200.00) on shares of Align Technology in a research report on Monday, August 7th. Northcoast Research reissued a “buy” rating and set a $186.00 target price (up previously from $164.00) on shares of Align Technology in a research report on Wednesday, June 21st. Finally, Robert W. Baird reissued a “buy” rating on shares of Align Technology in a research report on Tuesday, September 12th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $188.80.

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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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