Weaver C. Barksdale Associates buys $2.8 Million stake in Align Technology (ALGN)

Align Technology (ALGN) : Weaver C. Barksdale Associates scooped up 37,490 additional shares in Align Technology during the most recent quarter end , according to a recent disclosure to the SEC on Apr 5, 2016. The investment management firm now holds a total of 37,541 shares of Align Technology which is valued at $2.8 Million.Align Technology makes up approximately 2.08% of Weaver C. Barksdale Associates’s portfolio.

On the company’s financial health, Align Technology reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $0.54. The company had revenue of $230.30 million for the quarter, compared to analysts expectations of $226.69 million. The company’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.

Many Wall Street Analysts have commented on Align Technology. Company shares were Reiterated by Stifel on Jan 29, 2016 to “Buy”, Firm has raised the Price Target to $ 82 from a previous price target of $80 .

Align Technology opened for trading at $73.25 and hit $74.21 on the upside on Monday, eventually ending the session at $73.32, with a gain of 0.36% or 0.26 points. The heightened volatility saw the trading volume jump to 4,20,942 shares. Company has a market cap of $5,838 M.

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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