Gryphon Financial Partners LLC boosted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3,653.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 563 shares of the medical equipment provider’s stock after purchasing an additional 548 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Align Technology were worth $220,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ALGN. IFM Investors Pty Ltd boosted its holdings in shares of Align Technology by 46.2% during the 2nd quarter. IFM Investors Pty Ltd now owns 3,481 shares of the medical equipment provider’s stock valued at $1,191,000 after purchasing an additional 1,100 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Align Technology by 3.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 12,790 shares of the medical equipment provider’s stock valued at $4,375,000 after purchasing an additional 390 shares during the last quarter. Xact Kapitalforvaltning AB boosted its holdings in shares of Align Technology by 1.8% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 17,049 shares of the medical equipment provider’s stock valued at $5,833,000 after purchasing an additional 297 shares during the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Align Technology by 15.7% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 4,033 shares of the medical equipment provider’s stock valued at $1,380,000 after purchasing an additional 547 shares during the last quarter. Finally, Confluence Investment Management LLC bought a new position in shares of Align Technology during the 2nd quarter valued at about $526,000. 78.54% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ ALGN opened at $235.96 on Friday. The stock has a market cap of $19.62 billion, a PE ratio of 50.06, a price-to-earnings-growth ratio of 2.13 and a beta of 2.00. Align Technology, Inc. has a 12-month low of $203.12 and a 12-month high of $398.88.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.05. The firm had revenue of $505.30 million for the quarter, compared to analysts’ expectations of $503.14 million. Align Technology had a net margin of 16.89% and a return on equity of 34.09%. The business’s revenue was up 31.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 EPS. As a group, sell-side analysts anticipate that Align Technology, Inc. will post 4.89 earnings per share for the current fiscal year.

In related news, SVP Stuart A. Hockridge sold 2,753 shares of the stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $366.73, for a total value of $1,009,607.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 10,000 shares of the stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $382.00, for a total transaction of $3,820,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 55,648 shares of company stock worth $20,577,327 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Several research firms have commented on ALGN. BidaskClub raised shares of Align Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 28th. Robert W. Baird increased their price objective on shares of Align Technology from $351.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Barclays reissued a “buy” rating on shares of Align Technology in a report on Thursday, July 26th. Stifel Nicolaus increased their price objective on shares of Align Technology from $375.00 to $425.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Finally, Piper Jaffray Companies increased their price objective on shares of Align Technology to $425.00 and gave the company an “overweight” rating in a report on Friday, July 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $354.08.

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About Align Technology

Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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