Align Technology, Inc. $ALGN Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 332.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 22,479 shares of the medical equipment provider’s stock after acquiring an additional 17,286 shares during the period. Janney Montgomery Scott LLC’s holdings in Align Technology were worth $3,854,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC raised its holdings in shares of Align Technology by 320.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 7,986 shares of the medical equipment provider’s stock worth $1,247,000 after purchasing an additional 6,085 shares in the last quarter. AIA Group Ltd purchased a new position in shares of Align Technology during the third quarter valued at $2,507,000. Clarkston Capital Partners LLC lifted its stake in Align Technology by 25.7% in the 3rd quarter. Clarkston Capital Partners LLC now owns 141,215 shares of the medical equipment provider’s stock worth $17,683,000 after acquiring an additional 28,850 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Align Technology by 35,513.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 545,604 shares of the medical equipment provider’s stock valued at $85,196,000 after purchasing an additional 544,072 shares during the period. Finally, Polianta Ltd purchased a new position in Align Technology during the fourth quarter valued at approximately $1,623,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Down 2.0%

Shares of ALGN traded down $3.67 during trading hours on Tuesday, hitting $184.72. The company had a trading volume of 60,189 shares, compared to its average volume of 1,143,442. The business has a fifty day moving average of $171.80 and a 200-day moving average of $173.09. The firm has a market cap of $13.23 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 1.89 and a beta of 1.67. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $208.30.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, April 29th. The medical equipment provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.26 by $0.32. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Align Technology had a return on equity of 15.82% and a net margin of 10.50%.The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.13 earnings per share. On average, equities analysts expect that Align Technology, Inc. will post 9.48 EPS for the current fiscal year.

Align Technology declared that its board has approved a stock buyback plan on Wednesday, April 29th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the medical equipment provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ALGN shares. Barclays upgraded shares of Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price target on the stock in a report on Tuesday, March 17th. Evercore raised their price objective on shares of Align Technology from $200.00 to $220.00 in a report on Thursday, April 30th. Morgan Stanley upped their target price on shares of Align Technology from $169.00 to $188.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Leerink Partners boosted their target price on Align Technology from $225.00 to $230.00 in a research report on Thursday, April 30th. Finally, Zacks Research raised Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Align Technology has an average rating of “Moderate Buy” and a consensus target price of $205.85.

Align Technology Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.