Disciplined Growth Investors Inc. MN Lowers Holdings in Align Technology, Inc. (ALGN)

Disciplined Growth Investors Inc. MN lessened its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 0.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,109,867 shares of the medical equipment provider’s stock after selling 6,034 shares during the period. Align Technology comprises 3.5% of Disciplined Growth Investors Inc. MN’s investment portfolio, making the stock its 6th biggest holding. Disciplined Growth Investors Inc. MN owned about 1.38% of Align Technology worth $166,613,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALGN. Vanguard Group Inc. grew its holdings in Align Technology by 16.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock worth $1,095,740,000 after acquiring an additional 1,034,254 shares in the last quarter. State Street Corp grew its holdings in Align Technology by 32.2% during the 2nd quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock worth $471,823,000 after acquiring an additional 765,189 shares in the last quarter. Federated Investors Inc. PA grew its holdings in Align Technology by 794.9% during the 2nd quarter. Federated Investors Inc. PA now owns 685,086 shares of the medical equipment provider’s stock worth $102,846,000 after acquiring an additional 608,535 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Align Technology by 200.5% during the 2nd quarter. Janus Henderson Group PLC now owns 594,124 shares of the medical equipment provider’s stock worth $89,190,000 after acquiring an additional 396,426 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in Align Technology by 568.4% during the 2nd quarter. Voya Investment Management LLC now owns 441,451 shares of the medical equipment provider’s stock worth $66,271,000 after acquiring an additional 375,409 shares in the last quarter. Institutional investors own 81.56% of the company’s stock.

Several research firms have commented on ALGN. Northcoast Research reiterated a “buy” rating and set a $230.00 price target (up previously from $200.00) on shares of Align Technology in a report on Tuesday. Morgan Stanley reiterated an “overweight” rating and set a $220.00 price target (up previously from $195.00) on shares of Align Technology in a report on Friday, October 6th. Goldman Sachs Group, Inc. (The) boosted their price target on shares of Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 15th. Robert W. Baird reiterated a “buy” rating on shares of Align Technology in a report on Tuesday, September 12th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $200.00 price target on shares of Align Technology in a report on Monday, September 11th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Align Technology has an average rating of “Buy” and an average target price of $193.20.

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Shares of Align Technology, Inc. (NASDAQ:ALGN) traded up 0.17% on Friday, hitting $192.70. 298,683 shares of the stock traded hands. The firm has a market cap of $15.44 billion, a P/E ratio of 65.99 and a beta of 1.54. The firm’s 50-day moving average is $183.48 and its 200 day moving average is $154.25. Align Technology, Inc. has a 12-month low of $83.27 and a 12-month high of $194.84.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $343.43 million. During the same quarter last year, the company earned $0.62 earnings per share. The business’s quarterly revenue was up 32.3% compared to the same quarter last year. Equities research analysts forecast that Align Technology, Inc. will post $3.41 EPS for the current fiscal year.

Align Technology Company Profile

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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