Kornitzer Capital Management Inc Ks buys $60,053,496 stake in Align Technology (ALGN)

Align Technology (ALGN) : Kornitzer Capital Management Inc Ks scooped up 18,559 additional shares in Align Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 803,929 shares of Align Technology which is valued at $60,053,496.Align Technology makes up approximately 1.08% of Kornitzer Capital Management Inc Ks’s portfolio.

Align Technology closed down -0.86 points or -1.14% at $74.7 with 9,83,069 shares getting traded on Friday. Post opening the session at $75.05, the shares hit an intraday low of $73.85 and an intraday high of $75.63 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Evercore Wealth Management added ALGN to its portfolio by purchasing 65 company shares during the most recent quarter which is valued at $4,856.Texas Permanent School Fund reduced its stake in ALGN by selling 2,184 shares or 3.63% in the most recent quarter. The Hedge Fund company now holds 57,936 shares of ALGN which is valued at $4,182,400. Align Technology makes up approx 0.05% of Texas Permanent School Fund’s portfolio.Glenmede Trust Co Na boosted its stake in ALGN in the latest quarter, The investment management firm added 8,970 additional shares and now holds a total of 25,039 shares of Align Technology which is valued at $1,807,565. Align Technology makes up approx 0.01% of Glenmede Trust Co Na’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in ALGN in the latest quarter, The investment management firm added 372 additional shares and now holds a total of 782 shares of Align Technology which is valued at $57,766.Vontobel Asset Management Inc boosted its stake in ALGN in the latest quarter, The investment management firm added 6,765 additional shares and now holds a total of 216,603 shares of Align Technology which is valued at $16,000,464. Align Technology makes up approx 0.13% of Vontobel Asset Management Inc’s portfolio.

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.

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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