Private Advisor Group LLC Reduces Holdings in Align Technology, Inc. (ALGN)

Private Advisor Group LLC lessened its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 23.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,269 shares of the medical equipment provider’s stock after selling 693 shares during the period. Private Advisor Group LLC’s holdings in Align Technology were worth $344,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Engineers Gate Manager LP lifted its holdings in shares of Align Technology by 45.1% in the 2nd quarter. Engineers Gate Manager LP now owns 28,873 shares of the medical equipment provider’s stock valued at $4,334,000 after acquiring an additional 8,977 shares during the last quarter. Tredje AP fonden lifted its holdings in shares of Align Technology by 6.5% in the 2nd quarter. Tredje AP fonden now owns 11,660 shares of the medical equipment provider’s stock valued at $1,750,000 after acquiring an additional 710 shares during the last quarter. Schroder Investment Management Group bought a new position in shares of Align Technology in the 2nd quarter valued at about $104,000. Old Mutual Global Investors UK Ltd. lifted its holdings in shares of Align Technology by 35.8% in the 2nd 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 acquiring an additional 255,000 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Align Technology in the 2nd quarter valued at about $11,228,000. 81.57% of the stock is owned by institutional investors and hedge funds.

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A number of brokerages recently commented on ALGN. Goldman Sachs Group, Inc. (The) increased their price target on shares of Align Technology from $185.00 to $210.00 and gave the company a “buy” rating in a report on Friday. Robert W. Baird reaffirmed a “buy” rating on shares of Align Technology in a report on Tuesday, September 12th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $200.00 price target on shares of Align Technology in a report on Monday, September 11th. Zacks Investment Research downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 21st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $205.00 price target (up previously from $200.00) on shares of Align Technology in a report on Monday, August 7th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $179.82.

Shares of Align Technology, Inc. (NASDAQ:ALGN) opened at 188.34 on Tuesday. Align Technology, Inc. has a 52-week low of $83.27 and a 52-week high of $188.97. The stock has a market capitalization of $15.10 billion, a price-to-earnings ratio of 64.50 and a beta of 1.55. The company has a 50-day moving average of $175.65 and a 200-day moving average of $144.65.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. The firm 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%. Align Technology’s quarterly revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 earnings per share. Equities research analysts anticipate that Align Technology, Inc. will post $3.40 EPS for the current year.

About Align Technology

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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