Columbia Wanger Asset Management buys $234 Million stake in Align Technology (ALGN)

Align Technology (ALGN) : Columbia Wanger Asset Management scooped up 133,377 additional shares in Align Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 3,075,617 shares of Align Technology which is valued at $234 Million.Align Technology makes up approximately 2.51% of Columbia Wanger Asset Management’s portfolio.

Other Hedge Funds, Including , Sg Americas Securities boosted its stake in ALGN in the latest quarter, The investment management firm added 2,399 additional shares and now holds a total of 20,649 shares of Align Technology which is valued at $1.6 Million. Align Technology makes up approx 0.01% of Sg Americas Securities’s portfolio.Stephens Inc Ar boosted its stake in ALGN in the latest quarter, The investment management firm added 4,475 additional shares and now holds a total of 77,542 shares of Align Technology which is valued at $5.8 Million. Align Technology makes up approx 0.28% of Stephens Inc Ar’s portfolio.Td Asset Management Inc reduced its stake in ALGN by selling 1,100 shares or 4.89% in the most recent quarter. The Hedge Fund company now holds 21,400 shares of ALGN which is valued at $1.6 Million. Barrett Asset Management added ALGN to its portfolio by purchasing 121 company shares during the most recent quarter which is valued at $8,735.

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.

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