Rhumbline Advisers Buys 7,032 Shares of Align Technology, Inc. (ALGN)

Rhumbline Advisers lifted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 4.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,816 shares of the medical equipment provider’s stock after buying an additional 7,032 shares during the period. Rhumbline Advisers owned approximately 0.19% of Align Technology worth $28,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Align Technology by 16.5% in the second quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock valued at $1,095,740,000 after buying an additional 1,034,254 shares during the period. Polen Capital Management LLC boosted its stake in shares of Align Technology by 6.8% in the second quarter. Polen Capital Management LLC now owns 3,362,570 shares of the medical equipment provider’s stock valued at $504,789,000 after buying an additional 212,773 shares during the period. State Street Corp boosted its stake in shares of Align Technology by 32.2% in the second quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock valued at $471,823,000 after buying an additional 765,189 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Align Technology by 11.3% in the second quarter. Renaissance Technologies LLC now owns 1,587,681 shares of the medical equipment provider’s stock valued at $238,343,000 after buying an additional 160,881 shares during the period. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in shares of Align Technology by 35.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 968,086 shares of the medical equipment provider’s stock valued at $145,329,000 after buying an additional 255,000 shares during the period. Institutional investors and hedge funds own 80.86% of the company’s stock.

Shares of Align Technology, Inc. (NASDAQ ALGN) opened at $253.89 on Friday. Align Technology, Inc. has a 12 month low of $88.56 and a 12 month high of $257.60. The firm has a market capitalization of $20,440.00, a price-to-earnings ratio of 75.15, a price-to-earnings-growth ratio of 2.43 and a beta of 1.41.

Align Technology (NASDAQ:ALGN) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.19. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The firm had revenue of $385.30 million during the quarter, compared to analysts’ expectations of $359.80 million. During the same period in the prior year, the company earned $0.63 earnings per share. The company’s quarterly revenue was up 38.3% on a year-over-year basis. equities analysts forecast that Align Technology, Inc. will post 3.62 EPS for the current fiscal year.

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In other news, CMO Raphael Pascaud sold 5,400 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $241.88, for a total transaction of $1,306,152.00. Following the completion of the transaction, the chief marketing officer now directly owns 22,228 shares in the company, valued at $5,376,508.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Julie Tay sold 3,500 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $253.00, for a total transaction of $885,500.00. Following the transaction, the vice president now owns 12,213 shares of the company’s stock, valued at $3,089,889. The disclosure for this sale can be found here. Insiders have sold 16,600 shares of company stock valued at $4,031,567 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Several equities research analysts recently issued reports on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $225.00 price target (up from $205.00) on shares of Align Technology in a research note on Thursday, October 19th. Northcoast Research reiterated a “buy” rating and issued a $230.00 price target (up from $200.00) on shares of Align Technology in a research note on Tuesday, October 10th. Credit Suisse Group reiterated a “positive” rating and issued a $261.00 price target (up from $209.00) on shares of Align Technology in a research note on Thursday, November 9th. Bank of America Corporation upgraded Align Technology from a “neutral” rating to a “buy” rating and boosted their price target for the company from $175.00 to $193.00 in a research note on Friday, July 28th. Finally, Zacks Investment Research upgraded Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price target for the company in a research note on Monday, October 30th. Eleven investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $219.18.

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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