Janney Montgomery Scott LLC Has $1.82 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Janney Montgomery Scott LLC lessened its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 14.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 7,156 shares of the medical equipment provider’s stock after selling 1,188 shares during the period. Janney Montgomery Scott LLC’s holdings in Align Technology were worth $1,820,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. lifted its position in shares of Align Technology by 854.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 94 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Align Technology during the 2nd quarter worth about $26,000. Rothschild Investment LLC acquired a new position in shares of Align Technology during the 2nd quarter worth about $26,000. Versant Capital Management Inc increased its stake in Align Technology by 547.1% during the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 93 shares during the period. Finally, LRI Investments LLC bought a new position in Align Technology during the first quarter valued at about $29,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Trading Down 1.9 %

ALGN stock opened at $215.03 on Thursday. The firm has a market cap of $16.05 billion, a P/E ratio of 36.69, a P/E/G ratio of 5.68 and a beta of 1.65. Align Technology, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40. The business’s 50 day moving average is $229.04 and its 200-day moving average is $241.11.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The business had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. Align Technology’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.62 EPS. Sell-side analysts forecast that Align Technology, Inc. will post 7.45 EPS for the current year.

Analyst Ratings Changes

ALGN has been the topic of several research reports. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Robert W. Baird lowered their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Evercore ISI lowered their price target on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley lowered their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $276.38.

Align Technology Profile

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.