Northwestern Mutual Wealth Management Co. Has $497,000 Stake in Align Technology, Inc. (ALGN)

Northwestern Mutual Wealth Management Co. grew its stake in Align Technology, Inc. (NASDAQ:ALGN) by 1,615.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,310 shares of the medical equipment provider’s stock after purchasing an additional 3,117 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Align Technology were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its holdings in shares of Align Technology by 30.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,939 shares of the medical equipment provider’s stock worth $337,000 after acquiring an additional 680 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Align Technology by 16.5% in the 1st quarter. American Century Companies Inc. now owns 9,461 shares of the medical equipment provider’s stock worth $1,085,000 after acquiring an additional 1,337 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Align Technology by 8.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 23,605 shares of the medical equipment provider’s stock worth $2,708,000 after acquiring an additional 1,906 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Align Technology by 4.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,017 shares of the medical equipment provider’s stock worth $1,378,000 after acquiring an additional 541 shares in the last quarter. Finally, World Asset Management Inc boosted its holdings in shares of Align Technology by 16.0% in the 1st quarter. World Asset Management Inc now owns 5,269 shares of the medical equipment provider’s stock worth $604,000 after acquiring an additional 728 shares in the last quarter. Institutional investors own 81.72% of the company’s stock.

Several brokerages have recently commented on ALGN. Robert W. Baird reissued a “buy” rating on shares of Align Technology in a report on Tuesday. Goldman Sachs Group, Inc. (The) boosted their target price on Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Friday. Piper Jaffray Companies reissued a “buy” rating and issued a $200.00 target price on shares of Align Technology in a report on Monday, September 11th. Leerink Swann reissued an “outperform” rating and issued a $199.00 target price (up from $194.00) on shares of Align Technology in a report on Friday, July 28th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $205.00 target price (up from $200.00) on shares of Align Technology in a report on Monday, August 7th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $179.82.

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Align Technology, Inc. (NASDAQ ALGN) opened at 184.50 on Friday. The firm has a market cap of $14.79 billion, a P/E ratio of 63.18 and a beta of 1.55. The firm’s 50-day moving average price is $175.22 and its 200 day moving average price is $143.46. Align Technology, Inc. has a 12-month low of $83.27 and a 12-month high of $186.10.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. The business had revenue of $356.50 million for the quarter, compared to analysts’ expectations of $343.43 million. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The firm’s quarterly revenue was up 32.3% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. Analysts forecast that Align Technology, Inc. will post $3.40 earnings per share for the current fiscal year.

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.

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

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