Financial Counselors Inc. reduced its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 19.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,832 shares of the medical equipment provider’s stock after selling 1,687 shares during the period. Financial Counselors Inc.’s holdings in Align Technology were worth $1,026,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in ALGN. Schroder Investment Management Group purchased a new stake in shares of Align Technology in the 2nd quarter valued at $104,000. CENTRAL TRUST Co boosted its holdings in shares of Align Technology by 128.5% in the 2nd quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock valued at $105,000 after acquiring an additional 392 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Align Technology by 6.9% in the 1st quarter. Van ECK Associates Corp now owns 1,057 shares of the medical equipment provider’s stock valued at $121,000 after acquiring an additional 68 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Align Technology by 13.0% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock valued at $137,000 after acquiring an additional 105 shares during the last quarter. Finally, Trust Co. of Vermont boosted its holdings in shares of Align Technology by 15.4% in the 2nd quarter. Trust Co. of Vermont now owns 1,010 shares of the medical equipment provider’s stock valued at $152,000 after acquiring an additional 135 shares during the last quarter. 81.72% of the stock is currently owned by institutional investors and hedge funds.
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Several analysts have recently commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $205.00 price objective (up from $200.00) on shares of Align Technology in a report on Monday, August 7th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Align Technology in a report on Monday. Bank of America Corporation upgraded shares of Align Technology from a “neutral” rating to a “buy” rating and boosted their target price for the company from $175.00 to $193.00 in a research note on Friday, July 28th. Leerink Swann reiterated an “outperform” rating and issued a $199.00 target price (up from $194.00) on shares of Align Technology in a research note on Friday, July 28th. Finally, Zacks Investment Research cut shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 21st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Align Technology currently has a consensus rating of “Buy” and an average target price of $176.80.
Shares of Align Technology, Inc. (NASDAQ:ALGN) opened at 184.12 on Tuesday. The stock has a 50 day moving average of $171.93 and a 200-day moving average of $141.36. The firm has a market capitalization of $14.76 billion, a PE ratio of 63.05 and a beta of 1.55. Align Technology, Inc. has a 12 month low of $83.27 and a 12 month high of $185.61.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.12. The business had revenue of $356.50 million during the quarter, compared to the consensus estimate of $343.43 million. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The business’s revenue was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 EPS. On average, equities research analysts anticipate that Align Technology, Inc. will post $3.40 EPS for the current fiscal 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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