Permanens Capital adds Align Technology (ALGN) to its portfolio

Align Technology (ALGN) : Permanens Capital added new position in Align Technology during the most recent quarter end. The investment management firm now holds 5,000 shares of Align Technology which is valued at $478,250 , the company said in a statement filed on Aug 15, 2016 with the SEC.Align Technology makes up approximately 0.24% of Permanens Capital’s portfolio.

Other Hedge Funds, Including , Voloridge Investment Management sold out all of its stake in ALGN during the most recent quarter. The investment firm sold 12,561 shares of ALGN which is valued $1,201,460.Aperio Group boosted its stake in ALGN in the latest quarter, The investment management firm added 506 additional shares and now holds a total of 18,241 shares of Align Technology which is valued at $1,744,752. Align Technology makes up approx 0.01% of Aperio Group’s portfolio.Finemark National Bank Trust reduced its stake in ALGN by selling 466 shares or 43.92% in the most recent quarter. The Hedge Fund company now holds 595 shares of ALGN which is valued at $56,305. Align Technology makes up approx 0.01% of Finemark National Bank Trust’s portfolio. Congress Asset Management Co added ALGN to its portfolio by purchasing 59,576 company shares during the most recent quarter which is valued at $5,470,864. Align Technology makes up approx 0.12% of Congress Asset Management Co’s portfolio.Kornitzer Capital Management Inc Ks reduced its stake in ALGN by selling 177,890 shares or 22.13% in the most recent quarter. The Hedge Fund company now holds 626,039 shares of ALGN which is valued at $55,811,377. Align Technology makes up approx 1.01% of Kornitzer Capital Management Inc Ks’s portfolio.

Align Technology opened for trading at $93.2 and hit $93.92 on the upside on Thursday, eventually ending the session at $93.76, with a gain of 0.93% or 0.86 points. The heightened volatility saw the trading volume jump to 6,43,448 shares. Company has a market cap of $7,505 M.

On the company’s financial health, Align Technology reported $0.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.48. The company had revenue of $269.40 million for the quarter, compared to analysts expectations of $258.76 million. The company’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on Align Technology. Company shares were Reiterated by Stifel on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 95 from a previous price target of $82 .

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.

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