Lebenthal Lisanti Capital Growth LLC acquired a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the second quarter, Holdings Channel reports. The institutional investor acquired 5,535 shares of the medical equipment provider’s stock, valued at approximately $831,000.

Several other large investors have also made changes to their positions in ALGN. CENTRAL TRUST Co increased its stake in shares of Align Technology by 128.5% in the second quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock worth $105,000 after buying an additional 392 shares in the last quarter. Trust Co. of Vermont increased its stake in shares of Align Technology by 15.4% in the second quarter. Trust Co. of Vermont now owns 1,010 shares of the medical equipment provider’s stock worth $152,000 after buying an additional 135 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Align Technology by 6.9% in the first quarter. Van ECK Associates Corp now owns 1,057 shares of the medical equipment provider’s stock worth $121,000 after buying an additional 68 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Align Technology during the second quarter worth approximately $192,000. Finally, Summit Creek Advisors LLC acquired a new stake in shares of Align Technology during the second quarter worth approximately $206,000. 87.34% of the stock is owned by institutional investors and hedge funds.

Shares of Align Technology, Inc. (NASDAQ:ALGN) opened at 169.30 on Friday. The stock has a market cap of $13.58 billion, a P/E ratio of 57.98 and a beta of 1.55. Align Technology, Inc. has a 52-week low of $83.27 and a 52-week high of $173.79. The firm’s 50-day moving average price is $153.72 and its 200-day moving average price is $125.88.

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 the Zacks’ consensus estimate of $0.73 by $0.12. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The business had revenue of $356.50 million for the quarter, compared to the consensus estimate of $343.43 million. During the same period in the prior year, the business posted $0.62 earnings per share. Align Technology’s revenue for the quarter was up 32.3% compared to the same quarter last year. On average, equities research analysts forecast that Align Technology, Inc. will post $3.40 earnings per share for the current fiscal year.

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A number of equities research analysts have recently commented on the company. Bank of America Corporation raised Align Technology from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $175.00 to $193.00 in a research report on Friday, July 28th. Piper Jaffray Companies reissued a “buy” rating and set a $176.00 price target on shares of Align Technology in a research report on Friday, July 28th. Leerink Swann reissued an “outperform” rating and set a $199.00 price target (up previously from $194.00) on shares of Align Technology in a research report on Friday, July 28th. Stifel Nicolaus reissued a “buy” rating and set a $200.00 price target (up previously from $145.00) on shares of Align Technology in a research report on Friday, June 23rd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $150.00 price target (up previously from $110.00) on shares of Align Technology in a research report on Saturday, April 29th. Ten analysts have rated the stock with a buy rating, Align Technology presently has a consensus rating of “Buy” and a consensus target price of $173.90.

In other Align Technology news, Director Joseph Lacob sold 50,000 shares of the stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $144.98, for a total transaction of $7,249,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Sreelakshmi Kolli sold 1,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $144.00, for a total transaction of $144,000.00. Following the transaction, the vice president now directly owns 23,785 shares in the company, valued at $3,425,040. The disclosure for this sale can be found here. Insiders sold 54,874 shares of company stock worth $7,950,701 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

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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