Bank of Nova Scotia Invests $4.13 Million in Align Technology, Inc. (ALGN) Stock

Bank of Nova Scotia bought a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,507 shares of the medical equipment provider’s stock, valued at approximately $4,129,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALGN. Vanguard Group Inc. grew its stake in Align Technology by 16.5% during the second quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock worth $1,095,740,000 after buying an additional 1,034,254 shares during the last quarter. Polen Capital Management LLC grew its stake in Align Technology by 6.8% during the second quarter. Polen Capital Management LLC now owns 3,362,570 shares of the medical equipment provider’s stock worth $504,789,000 after buying an additional 212,773 shares during the last quarter. State Street Corp grew its stake in Align Technology by 32.2% during the second quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock worth $471,823,000 after buying an additional 765,189 shares during the last quarter. Renaissance Technologies LLC grew its stake in Align Technology by 11.3% during the second quarter. Renaissance Technologies LLC now owns 1,587,681 shares of the medical equipment provider’s stock worth $238,343,000 after buying an additional 160,881 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. grew its stake in Align Technology by 35.8% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 968,086 shares of the medical equipment provider’s stock worth $145,329,000 after buying an additional 255,000 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This article was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/17/bank-of-nova-scotia-invests-4-13-million-in-align-technology-inc-algn-stock.html.

Align Technology, Inc. (ALGN) opened at 193.37 on Tuesday. The stock’s 50 day moving average is $184.32 and its 200-day moving average is $155.40. The firm has a market capitalization of $15.50 billion, a price-to-earnings ratio of 66.22 and a beta of 1.54. Align Technology, Inc. has a 12 month low of $83.27 and a 12 month high of $195.60.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.12. The company had revenue of $356.50 million for the quarter, compared to analyst estimates of $343.43 million. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The firm’s revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 EPS. Equities analysts anticipate that Align Technology, Inc. will post $3.41 earnings per share for the current fiscal year.

Several analysts have weighed in on the stock. Northcoast Research reaffirmed a “buy” rating and set a $230.00 price objective (up from $200.00) on shares of Align Technology in a research note on Tuesday, October 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $220.00 price objective (up from $195.00) on shares of Align Technology in a research note on Friday, October 6th. Robert W. Baird reaffirmed a “buy” rating on shares of Align Technology in a research note on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) upped their price objective on shares of Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, September 15th. Fin

A number of other hedge funds and other institutional investors have also bought and sold shares of ALGN. Vanguard Group Inc. grew its stake in Align Technology by 16.5% during the second quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock worth $1,095,740,000 after buying an additional 1,034,254 shares during the last quarter. Polen Capital Management LLC grew its stake in Align Technology by 6.8% during the second quarter. Polen Capital Management LLC now owns 3,362,570 shares of the medical equipment provider’s stock worth $504,789,000 after buying an additional 212,773 shares during the last quarter. State Street Corp grew its stake in Align Technology by 32.2% during the second quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock worth $471,823,000 after buying an additional 765,189 shares during the last quarter. Renaissance Technologies LLC grew its stake in Align Technology by 11.3% during the second quarter. Renaissance Technologies LLC now owns 1,587,681 shares of the medical equipment provider’s stock worth $238,343,000 after buying an additional 160,881 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. grew its stake in Align Technology by 35.8% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 968,086 shares of the medical equipment provider’s stock worth $145,329,000 after buying an additional 255,000 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This article was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/17/bank-of-nova-scotia-invests-4-13-million-in-align-technology-inc-algn-stock.html.

Align Technology, Inc. (ALGN) opened at 193.37 on Tuesday. The stock’s 50 day moving average is $184.32 and its 200-day moving average is $155.40. The firm has a market capitalization of $15.50 billion, a price-to-earnings ratio of 66.22 and a beta of 1.54. Align Technology, Inc. has a 12 month low of $83.27 and a 12 month high of $195.60.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.12. The company had revenue of $356.50 million for the quarter, compared to analyst estimates of $343.43 million. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The firm’s revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 EPS. Equities analysts anticipate that Align Technology, Inc. will post $3.41 earnings per share for the current fiscal year.

Several analysts have weighed in on the stock. Northcoast Research reaffirmed a “buy” rating and set a $230.00 price objective (up from $200.00) on shares of Align Technology in a research note on Tuesday, October 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $220.00 price objective (up from $195.00) on shares of Align Technology in a research note on Friday, October 6th. Robert W. Baird reaffirmed a “buy” rating on shares of Align Technology in a research note on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) upped their price objective on shares of Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, September 15th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $200.00 price objective on shares of Align Technology in a research note on Monday, September 11th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $193.20.

Align Technology 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.

Want to see what other hedge funds are holding ALGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Align Technology, Inc. (NASDAQ:ALGN).

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

Receive News & Ratings for Align Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply