Sanctuary Wealth Advisors LLC purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,906 shares of the medical equipment provider’s stock, valued at approximately $3,589,000. Align Technology accounts for 3.1% of Sanctuary Wealth Advisors LLC’s portfolio, making the stock its 9th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of ALGN. BlackRock Inc. raised its position in shares of Align Technology by 5,738.0% in the first quarter. BlackRock Inc. now owns 6,640,531 shares of the medical equipment provider’s stock valued at $761,737,000 after buying an additional 6,526,784 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Align Technology by 2.3% in the first quarter. Vanguard Group Inc. now owns 6,264,845 shares of the medical equipment provider’s stock valued at $718,641,000 after buying an additional 138,293 shares during the last quarter. Polen Capital Management LLC raised its position in shares of Align Technology by 8.5% in the first quarter. Polen Capital Management LLC now owns 3,149,797 shares of the medical equipment provider’s stock valued at $361,313,000 after buying an additional 248,095 shares during the last quarter. State Street Corp raised its position in shares of Align Technology by 1.7% in the first quarter. State Street Corp now owns 2,377,906 shares of the medical equipment provider’s stock valued at $272,752,000 after buying an additional 39,963 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Align Technology by 4.1% in the first quarter. William Blair Investment Management LLC now owns 1,573,601 shares of the medical equipment provider’s stock valued at $180,508,000 after buying an additional 62,441 shares during the last quarter. Institutional investors own 87.13% of the company’s stock.

Shares of Align Technology, Inc. (NASDAQ:ALGN) opened at 169.30 on Monday. The company has a market capitalization of $13.58 billion, a price-to-earnings ratio of 57.98 and a beta of 1.55. The firm’s 50-day moving average is $153.72 and its 200-day moving average is $125.88. Align Technology, Inc. has a 1-year low of $83.27 and a 1-year high of $173.79.

Align Technology (NASDAQ:ALGN) last announced its earnings results 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. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The firm had revenue of $356.50 million for the quarter, compared to analyst estimates of $343.43 million. During the same quarter last year, the firm posted $0.62 EPS. The business’s revenue was up 32.3% on a year-over-year basis. Analysts forecast that Align Technology, Inc. will post $3.40 earnings per share for the current fiscal year.

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ALGN has been the subject of several research reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $176.00 price target on shares of Align Technology in a research note on Friday, July 28th. Morgan Stanley reiterated an “overweight” rating and issued a $175.00 price target on shares of Align Technology in a research note on Monday, June 19th. They noted that the move was a valuation call. Northcoast Research reiterated a “buy” rating and issued a $186.00 price target (up from $164.00) on shares of Align Technology in a research note on Wednesday, June 21st. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a research note on Tuesday, April 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $200.00 price target (up from $145.00) on shares of Align Technology in a research note on Friday, June 23rd. Ten investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus target price of $173.90.

In other Align Technology news, Director Joseph Lacob sold 3,874 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $143.96, for a total value of $557,701.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Sreelakshmi Kolli sold 1,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $144.00, for a total value of $144,000.00. Following the completion of the transaction, the vice president now owns 23,785 shares in the company, valued at approximately $3,425,040. The disclosure for this sale can be found here. Insiders have sold a total of 54,874 shares of company stock worth $7,950,701 in the last quarter. Insiders own 2.00% of the company’s stock.

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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