Align Technology (ALGN) : March Altus Capital Management Lp added new position in Align Technology during the most recent quarter end. The investment management firm now holds 5,366 shares of Align Technology which is valued at $408,245 , the company said in a statement filed on May 12, 2016 with the SEC.Align Technology makes up approximately 4.11% of March Altus Capital Management Lp’s portfolio.
Other Hedge Funds, Including , Raymond James Associates reduced its stake in ALGN by selling 25,273 shares or 47.24% in the most recent quarter. The Hedge Fund company now holds 28,225 shares of ALGN which is valued at $2.1 Million. Align Technology makes up approx 0.01% of Raymond James Associates’s portfolio. Essex Investment Management Co added ALGN to its portfolio by purchasing 7,945 company shares during the most recent quarter which is valued at $604,456. Align Technology makes up approx 0.10% of Essex Investment Management Co’s portfolio.Commonwealth Of Pennsylvania Public School Empls Retrmt Sys reduced its stake in ALGN by selling 8,019 shares or 38.24% in the most recent quarter. The Hedge Fund company now holds 12,953 shares of ALGN which is valued at $985,464. Align Technology makes up approx 0.02% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio. Tocqueville Asset Management sold out all of its stake in ALGN during the most recent quarter. The investment firm sold 5,000 shares of ALGN which is valued $360,950.
Align Technology opened for trading at $76.48 and hit $78.25 on the upside on Friday, eventually ending the session at $77.43, with a gain of 1.92% or 1.46 points. The heightened volatility saw the trading volume jump to 7,83,619 shares. Company has a market cap of $6,208,647 M.
On the company’s financial health, Align Technology reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.41. The company had revenue of $238.70 million for the quarter, compared to analysts expectations of $236.87 million. The company’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
Many Wall Street Analysts have commented on Align Technology. Credit Suisse Initiated Align Technology on May 11, 2016 to “Outperform”, Price Target of the shares are set at $84.
Align Technology Inc. (Align) is a medical device company. The Company designs manufactures and markets a system of clear aligner therapy intra-oral scanners and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services for dentistry orthodontics and dental records storage. The Company operates through two segments: Clear Aligner known as the Invisalign system and Scanners and Services known as the iTero intraoral scanner and OrthoCAD services. The Company’s Clear Aligner segment provides malocclusion and orthodontic treatment. The Company’s Scanners and Services Segment offers iTero intraoral scanner which utilizes laser and optical scanning to capture the contours of the patient’s dentition gingival structures and the bite. It distributes products directly to customers including orthodontists and general practitioner dentists (GPs) as well as to restorative dentists including prosthodontists periodontists and oral surgeons.