Align Technology, Inc. (ALGN) Shares Bought by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC lifted its position in Align Technology, Inc. (NASDAQ:ALGN) by 9.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 265,465 shares of the medical equipment provider’s stock after buying an additional 23,452 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.33% of Align Technology worth $39,852,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Align Technology by 5,738.0% during the 1st quarter. BlackRock Inc. now owns 6,640,531 shares of the medical equipment provider’s stock worth $761,737,000 after purchasing an additional 6,526,784 shares in the last quarter. Vanguard Group Inc. grew its stake in Align Technology by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 6,264,845 shares of the medical equipment provider’s stock worth $718,641,000 after purchasing an additional 138,293 shares in the last quarter. Polen Capital Management LLC grew its stake in Align Technology by 6.8% during the 2nd quarter. Polen Capital Management LLC now owns 3,362,570 shares of the medical equipment provider’s stock worth $504,789,000 after purchasing an additional 212,773 shares in the last quarter. State Street Corp grew its stake in Align Technology by 1.7% during the 1st quarter. State Street Corp now owns 2,377,906 shares of the medical equipment provider’s stock worth $272,752,000 after purchasing an additional 39,963 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in Align Technology by 4.1% during the 1st quarter. William Blair Investment Management LLC now owns 1,573,601 shares of the medical equipment provider’s stock worth $180,508,000 after purchasing an additional 62,441 shares in the last quarter. Hedge funds and other institutional investors own 81.57% of the company’s stock.

Several research analysts recently commented on ALGN shares. Jefferies Group LLC reissued a “buy” rating and set a $150.00 target price on shares of Align Technology in a research note on Thursday, June 1st. Morgan Stanley reissued an “overweight” rating and set a $175.00 target price on shares of Align Technology in a research note on Monday, June 19th. They noted that the move was a valuation call. Northcoast Research reissued a “buy” rating and set a $186.00 target price (up from $164.00) on shares of Align Technology in a research note on Wednesday, June 21st. Stifel Nicolaus reissued a “buy” rating and set a $200.00 target price (up from $145.00) on shares of Align Technology in a research note on Friday, June 23rd. Finally, Leerink Swann boosted their target price on Align Technology from $149.00 to $194.00 and gave the stock an “outperform” rating in a research note on Monday, June 26th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $179.82.

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Align Technology, Inc. (ALGN) opened at 188.78 on Thursday. The firm has a market capitalization of $15.13 billion, a PE ratio of 64.65 and a beta of 1.55. The stock’s 50 day moving average price is $176.23 and its 200 day moving average price is $145.25. Align Technology, Inc. has a 52-week low of $83.27 and a 52-week high of $190.04.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.73 by $0.12. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The company had revenue of $356.50 million for the quarter, compared to analyst estimates of $343.43 million. During the same period last year, the company posted $0.62 earnings per share. The firm’s revenue was up 32.3% compared to the same quarter last year. Analysts expect that Align Technology, Inc. will post $3.40 earnings per share for the current year.

Align Technology Profile

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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