Janney Montgomery Scott LLC raised its position in Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 34.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,546 shares of the medical equipment provider’s stock after purchasing an additional 3,185 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Align Technology were worth $3,438,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Huntington National Bank grew its stake in Align Technology by 94.9% in the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 56 shares in the last quarter. Orion Capital Management LLC purchased a new position in Align Technology in the third quarter valued at about $61,000. Operose Advisors LLC acquired a new stake in shares of Align Technology in the third quarter worth about $63,000. Covestor Ltd lifted its position in shares of Align Technology by 379.5% in the third quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock worth $64,000 after buying an additional 167 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its position in shares of Align Technology by 29.7% in the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock worth $65,000 after buying an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.
Insider Buying and Selling at Align Technology
In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the transaction, the director now owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.62% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. The Goldman Sachs Group boosted their price target on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. SVB Leerink assumed coverage on Align Technology in a research report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target for the company. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. UBS Group boosted their price target on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Finally, Stifel Nicolaus boosted their price objective on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $353.00.
Check Out Our Latest Analysis on Align Technology
Align Technology Stock Down 3.3 %
Align Technology stock opened at $252.39 on Friday. The business has a 50 day moving average price of $301.12 and a two-hundred day moving average price of $275.81. The stock has a market cap of $19.00 billion, a price-to-earnings ratio of 41.58, a price-to-earnings-growth ratio of 4.85 and a beta of 1.66. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $413.20.
Align Technology (NASDAQ:ALGN – Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.54 by $0.08. The firm had revenue of $997.43 million during the quarter, compared to analysts’ expectations of $971.97 million. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. On average, analysts expect that Align Technology, Inc. will post 7.92 earnings per share for the current fiscal year.
Align Technology Company Profile
(Free Report)
Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company’s Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.
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