Columbia Wanger Asset Management Lowers stake in Align Technology (ALGN)

Align Technology (ALGN) : Columbia Wanger Asset Management reduced its stake in Align Technology by 22.19% during the most recent quarter end. The investment management company now holds a total of 2,393,012 shares of Align Technology which is valued at $228,891,598 after selling 682,605 shares in Align Technology , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Align Technology makes up approximately 2.49% of Columbia Wanger Asset Management’s portfolio.

Other Hedge Funds, Including , Parametric Portfolio Associates reduced its stake in ALGN by selling 3,292 shares or 2.23% in the most recent quarter. The Hedge Fund company now holds 144,576 shares of ALGN which is valued at $13,828,694. Align Technology makes up approx 0.02% of Parametric Portfolio Associates’s portfolio.Swiss National Bank boosted its stake in ALGN in the latest quarter, The investment management firm added 8,134 additional shares and now holds a total of 120,264 shares of Align Technology which is valued at $11,058,275. Align Technology makes up approx 0.02% of Swiss National Bank’s portfolio.Bbva Compass Bancshares Inc reduced its stake in ALGN by selling 563 shares or 8.23% in the most recent quarter. The Hedge Fund company now holds 6,276 shares of ALGN which is valued at $559,505. Align Technology makes up approx 0.04% of Bbva Compass Bancshares Inc’s portfolio.Kanaly Trust Co boosted its stake in ALGN in the latest quarter, The investment management firm added 41 additional shares and now holds a total of 47 shares of Align Technology which is valued at $3,976.

Align Technology opened for trading at $92.98 and hit $93.82 on the upside on Monday, eventually ending the session at $93.45, with a gain of 0.84% or 0.78 points. The heightened volatility saw the trading volume jump to 5,71,195 shares. Company has a market cap of $7,480 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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