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

Janney Montgomery Scott LLC decreased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 14.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,156 shares of the medical equipment provider’s stock after selling 1,188 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Align Technology were worth $1,820,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ALGN. Achmea Investment Management B.V. lifted its stake in shares of Align Technology by 3.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider’s stock valued at $2,495,000 after purchasing an additional 339 shares during the period. Tidal Investments LLC lifted its stake in shares of Align Technology by 122.9% in the 1st quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock valued at $1,445,000 after purchasing an additional 2,430 shares during the period. Swedbank AB lifted its stake in shares of Align Technology by 2.0% in the 2nd quarter. Swedbank AB now owns 299,115 shares of the medical equipment provider’s stock valued at $72,215,000 after purchasing an additional 6,005 shares during the period. Cetera Investment Advisers lifted its stake in shares of Align Technology by 914.2% in the 1st quarter. Cetera Investment Advisers now owns 12,627 shares of the medical equipment provider’s stock valued at $4,140,000 after purchasing an additional 11,382 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Align Technology by 68.0% during the 1st quarter. Russell Investments Group Ltd. now owns 81,250 shares of the medical equipment provider’s stock worth $26,644,000 after buying an additional 32,890 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALGN. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Evercore ISI dropped their price objective 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 dropped their price objective 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, Piper Sandler dropped their price objective on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $276.38.

Align Technology Trading Down 1.9 %

ALGN stock opened at $215.03 on Thursday. The stock has a 50-day moving average price of $229.04 and a two-hundred day moving average price of $241.11. The stock has a market cap of $16.05 billion, a PE ratio of 36.69, a price-to-earnings-growth 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.

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

About Align Technology

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.