Raymond James & Associates Has $5.40 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Raymond James & Associates increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 17.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,214 shares of the medical equipment provider’s stock after acquiring an additional 3,170 shares during the quarter. Raymond James & Associates’ holdings in Align Technology were worth $5,395,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ALGN. Blue Trust Inc. lifted its position in shares of Align Technology by 327.1% in the third quarter. Blue Trust Inc. now owns 568 shares of the medical equipment provider’s stock valued at $137,000 after buying an additional 435 shares during the last quarter. Capital Investment Advisors LLC increased its position in Align Technology by 25.5% in the 3rd quarter. Capital Investment Advisors LLC now owns 5,439 shares of the medical equipment provider’s stock valued at $1,383,000 after buying an additional 1,104 shares in the last quarter. Richard W. Paul & Associates LLC increased its holdings in Align Technology by 28.3% during the 3rd quarter. Richard W. Paul & Associates LLC now owns 2,809 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 619 shares in the last quarter. Laurus Investment Counsel Inc. grew its holdings in shares of Align Technology by 29.1% in the third quarter. Laurus Investment Counsel Inc. now owns 41,565 shares of the medical equipment provider’s stock valued at $10,571,000 after acquiring an additional 9,380 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Align Technology by 2.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,079 shares of the medical equipment provider’s stock valued at $1,800,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Up 1.7 %

Shares of Align Technology stock opened at $208.58 on Friday. Align Technology, Inc. has a fifty-two week low of $184.89 and a fifty-two week high of $335.40. The firm has a market cap of $15.58 billion, a P/E ratio of 35.59, a P/E/G ratio of 4.98 and a beta of 1.64. The business has a 50-day moving average price of $231.05 and a 200 day moving average price of $246.21.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data 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%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 earnings per share. As a group, equities research analysts anticipate that Align Technology, Inc. will post 7.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ALGN. Morgan Stanley reduced their target price 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. Robert W. Baird decreased their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus dropped their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Piper Sandler dropped their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Evercore ISI decreased their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report 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 assigned a buy rating to the stock. Based on data from MarketBeat, Align Technology has an average rating of “Hold” and an average target price of $276.38.

Insider Buying and Selling

In other news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the acquisition, the director now directly owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.62% of the stock is currently owned by corporate 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.