SVA Plumb Wealth Management LLC acquired a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,430 shares of the medical equipment provider’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. AQR Capital Management LLC raised its stake in shares of Align Technology by 36.7% during the 1st quarter. AQR Capital Management LLC now owns 94,715 shares of the medical equipment provider’s stock worth $10,865,000 after purchasing an additional 25,422 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Align Technology by 11.6% during the 1st quarter. Stifel Financial Corp now owns 75,393 shares of the medical equipment provider’s stock worth $8,643,000 after purchasing an additional 7,834 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Align Technology during the 1st quarter worth about $2,620,000. American Century Companies Inc. raised its stake in shares of Align Technology by 2,236.0% during the 2nd quarter. American Century Companies Inc. now owns 221,009 shares of the medical equipment provider’s stock worth $33,178,000 after purchasing an additional 211,548 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. purchased a new stake in shares of Align Technology during the 2nd quarter worth about $9,854,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Shares of Align Technology, Inc. (NASDAQ ALGN) traded down 0.369% on Wednesday, hitting $184.974. The company had a trading volume of 192,562 shares. The firm has a 50 day moving average of $172.28 and a 200-day moving average of $141.67. Align Technology, Inc. has a 12-month low of $83.27 and a 12-month high of $185.61. The firm has a market capitalization of $14.83 billion, a P/E ratio of 63.347 and a beta of 1.55.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $343.43 million. During the same period in the prior year, the firm posted $0.62 earnings per share. The business’s quarterly revenue was up 32.3% compared to the same quarter last year. On average, equities analysts predict that Align Technology, Inc. will post $3.40 EPS for the current year.

ALGN has been the subject of a number of recent research reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $176.00 price target on shares of Align Technology in a research note on Friday, July 28th. Morgan Stanley reaffirmed an “overweight” rating and set 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 reaffirmed a “buy” rating and set a $186.00 price target (up from $164.00) on shares of Align Technology in a research note on Wednesday, June 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $200.00 price target (up from $145.00) on shares of Align Technology in a research note on Friday, June 23rd. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $199.00 price target (up from $194.00) on shares of Align Technology in a research note on Friday, July 28th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $176.80.

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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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