Raymond James & Associates Buys 3,170 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Raymond James & Associates grew its position in Align Technology, Inc. (NASDAQ:ALGN) by 17.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 21,214 shares of the medical equipment provider’s stock after purchasing an additional 3,170 shares during the quarter. Raymond James & Associates’ holdings in Align Technology were worth $5,395,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. grew its holdings in shares of Align Technology by 854.5% in the second 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 purchased a new position in Align Technology in the 2nd quarter valued at $26,000. Rothschild Investment LLC purchased a new position in shares of Align Technology during the 2nd quarter worth $26,000. Versant Capital Management Inc raised its holdings in Align Technology by 547.1% in the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 93 shares during the period. Finally, LRI Investments LLC acquired a new position in Align Technology in the 1st quarter valued at about $29,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Piper Sandler lowered their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, October 24th. Robert W. Baird cut their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus dropped their target price on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, Evercore ISI decreased their target price on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $276.38.

Align Technology Stock Up 1.7 %

Shares of NASDAQ ALGN opened at $208.58 on Friday. Align Technology, Inc. has a twelve month low of $184.89 and a twelve month high of $335.40. The company has a market cap of $15.58 billion, a PE ratio of 35.59, a price-to-earnings-growth ratio of 4.98 and a beta of 1.64. The business’s 50 day moving average price is $231.05 and its two-hundred day moving average price is $246.21.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business had revenue of $977.87 million during the quarter, compared to analysts’ expectations of $990.05 million. During the same period in the previous year, the company posted $1.62 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, research analysts anticipate that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

Insider Activity at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the acquisition, the director now owns 28,247 shares in the company, valued at approximately $6,647,366.51. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is currently owned by company insiders.

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.