State of Alaska Department of Revenue bought a new position in Align Technology, Inc. (NASDAQ:ALGN) during the second quarter, Holdings Channel reports. The firm bought 1,280 shares of the medical equipment provider’s stock, valued at approximately $192,000.

Other large investors have also added to or reduced their stakes in the company. Diversified Trust Co acquired a new stake in Align Technology during the first quarter worth about $247,000. Navellier & Associates Inc raised its stake in shares of Align Technology by 15.6% in the first quarter. Navellier & Associates Inc now owns 65,798 shares of the medical equipment provider’s stock worth $7,548,000 after buying an additional 8,863 shares during the last quarter. Oakbrook Investments LLC raised its stake in shares of Align Technology by 1.6% in the first quarter. Oakbrook Investments LLC now owns 6,350 shares of the medical equipment provider’s stock worth $728,000 after buying an additional 100 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Align Technology by 1.1% in the first quarter. Conestoga Capital Advisors LLC now owns 326,081 shares of the medical equipment provider’s stock worth $37,405,000 after buying an additional 3,556 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Align Technology by 3.2% in the first quarter. Louisiana State Employees Retirement System now owns 19,100 shares of the medical equipment provider’s stock worth $2,191,000 after buying an additional 600 shares during the last quarter. Institutional investors own 87.13% of the company’s stock.

Align Technology, Inc. (NASDAQ ALGN) traded up 2.6408% on Monday, hitting $173.7709. 422,751 shares of the company were exchanged. The firm has a 50 day moving average of $153.72 and a 200-day moving average of $125.88. Align Technology, Inc. has a 52-week low of $83.27 and a 52-week high of $174.82. The stock has a market cap of $13.93 billion, a PE ratio of 59.5106 and a beta of 1.55.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.12. The firm 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. On average, equities analysts expect 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 weighed in on ALGN shares. Stifel Nicolaus restated a “buy” rating and issued a $130.00 price objective on shares of Align Technology in a report on Tuesday, April 11th. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $128.00 price objective on the stock in a report on Tuesday, April 11th. Robert W. Baird upgraded shares of Align Technology from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $105.00 to $155.00 in a report on Friday, April 28th. Jefferies Group LLC restated a “buy” rating and issued a $150.00 price objective (up from $110.00) on shares of Align Technology in a report on Saturday, April 29th. Finally, Leerink Swann restated an “outperform” rating and issued a $149.00 price objective (up from $118.00) on shares of Align Technology in a report on Saturday, April 29th. Ten analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus target price of $174.40.

In related news, VP Sreelakshmi Kolli sold 1,000 shares of the company’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 sale, the vice president now directly owns 23,785 shares of the company’s stock, valued at $3,425,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Lacob sold 3,874 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $143.96, for a total transaction of $557,701.04. 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 corporate 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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