Landscape Capital Management L.L.C. Raises Holdings in Align Technology, Inc. (NASDAQ:ALGN)

by · The Markets Daily

Landscape Capital Management L.L.C. lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 11.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,338 shares of the medical equipment provider’s stock after purchasing an additional 878 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Align Technology were worth $2,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cullen Frost Bankers Inc. boosted its stake 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 valued at $25,000 after purchasing an additional 94 shares during the period. Innealta Capital LLC acquired a new stake in Align Technology during the 2nd quarter worth approximately $26,000. Rothschild Investment LLC purchased a new position in Align Technology in the 2nd quarter valued at approximately $26,000. Versant Capital Management Inc grew its stake in shares of Align Technology by 547.1% in the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 93 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Align Technology during the first quarter worth $29,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALGN has been the subject of a number of recent research reports. Evercore ISI decreased their price target on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Morgan Stanley lowered their target price on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Robert W. Baird decreased their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Stifel Nicolaus dropped their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $276.38.

Get Our Latest Report on Align Technology

Align Technology Trading Up 2.0 %

Shares of ALGN opened at $228.39 on Friday. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40. The firm has a market capitalization of $17.05 billion, a P/E ratio of 38.97, a PEG ratio of 5.77 and a beta of 1.65. The firm’s 50-day moving average is $228.89 and its two-hundred day moving average is $238.58.

Align Technology (NASDAQ:ALGN – Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share 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 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 EPS. Analysts predict that Align Technology, Inc. will post 7.45 EPS for the current year.

Align Technology Profile

(Free Report)

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.

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