Riverpark Capital Management buys $2,973,387 stake in Align Technology (ALGN)

Align Technology (ALGN) : Riverpark Capital Management scooped up 6,210 additional shares in Align Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 32,337 shares of Align Technology which is valued at $2,973,387.Align Technology makes up approximately 1.35% of Riverpark Capital Management’s portfolio.

Other Hedge Funds, Including , Gilder Gagnon Howe Co added ALGN to its portfolio by purchasing 3,249 company shares during the most recent quarter which is valued at $298,746. Align Technology makes up approx 0.01% of Gilder Gagnon Howe Co’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in ALGN by selling 275 shares or 1.61% in the most recent quarter. The Hedge Fund company now holds 16,794 shares of ALGN which is valued at $1,497,185. Align Technology makes up approx 0.01% of Public Employees Retirement Association Of Colorado’s portfolio. Cibc World Markets sold out all of its stake in ALGN during the most recent quarter. The investment firm sold 22,729 shares of ALGN which is valued $1,922,646.Eagle Asset Management Inc reduced its stake in ALGN by selling 27,175 shares or 13.15% in the most recent quarter. The Hedge Fund company now holds 179,420 shares of ALGN which is valued at $14,965,422. Align Technology makes up approx 0.10% of Eagle Asset Management Inc’s portfolio.

Align Technology closed down -0.23 points or -0.25% at $91.72 with 11,30,860 shares getting traded on Thursday. Post opening the session at $91.98, the shares hit an intraday low of $90.68 and an intraday high of $92.4 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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 .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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