Polen Capital Management buys $159,747,074 stake in Align Technology (ALGN)

Align Technology (ALGN) : Polen Capital Management scooped up 169,516 additional shares in Align Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 1,670,121 shares of Align Technology which is valued at $159,747,074.Align Technology makes up approximately 1.90% of Polen Capital Management’s portfolio.

Other Hedge Funds, Including , Seven Eight Capital reduced its stake in ALGN by selling 2,400 shares or 38.1% in the most recent quarter. The Hedge Fund company now holds 3,900 shares of ALGN which is valued at $373,035. Align Technology makes up approx 0.12% of Seven Eight Capital’s portfolio.Friedberg Investment Management boosted its stake in ALGN in the latest quarter, The investment management firm added 2,020 additional shares and now holds a total of 42,240 shares of Align Technology which is valued at $4,040,256. Align Technology makes up approx 1.86% of Friedberg Investment Management’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in ALGN in the latest quarter, The investment management firm added 18,706 additional shares and now holds a total of 110,635 shares of Align Technology which is valued at $10,159,612. Align Technology makes up approx 0.03% of State Board Of Administration Of Florida Retirement System’s portfolio.

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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