Janus Henderson Group PLC Sells 2,839 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Janus Henderson Group PLC lessened its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 1.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 161,979 shares of the medical equipment provider's stock after selling 2,839 shares during the period. Janus Henderson Group PLC owned 0.22% of Align Technology worth $41,196,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. raised its position in shares of Align Technology by 854.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 94 shares in the last quarter. Innealta Capital LLC purchased a new stake in Align Technology during the second quarter valued at about $26,000. Rothschild Investment LLC bought a new stake in Align Technology during the second quarter worth about $26,000. True Wealth Design LLC lifted its stake in Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider's stock worth $27,000 after purchasing an additional 107 shares during the last quarter. Finally, Mather Group LLC. increased its position in shares of Align Technology by 52.5% during the 2nd quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider's stock valued at $29,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 88.43% of the company's stock.

Align Technology Stock Up 2.0 %

Shares of Align Technology stock traded up $4.54 during trading on Friday, reaching $232.35. 560,642 shares of the stock were exchanged, compared to its average volume of 740,587. Align Technology, Inc. has a 1 year low of $196.09 and a 1 year high of $335.40. The firm has a market cap of $17.34 billion, a price-to-earnings ratio of 39.65, a price-to-earnings-growth ratio of 6.10 and a beta of 1.66. The stock's fifty day moving average is $224.73 and its 200 day moving average is $234.96.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The business had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. During the same period in the prior year, the business earned $1.62 EPS. The company's revenue for the quarter was up 1.8% on a year-over-year basis. Equities analysts forecast that Align Technology, Inc. will post 7.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ALGN. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research report on Monday, November 4th. StockNews.com upgraded shares of Align Technology from a "hold" rating to a "buy" rating in a report on Thursday, September 19th. Morgan Stanley reduced their target price on shares of Align Technology from $310.00 to $280.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Evercore ISI lowered 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. Finally, Robert W. Baird reduced their price objective on Align Technology from $325.00 to $276.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Align Technology presently has an average rating of "Moderate Buy" and an average target price of $278.44.

Align Technology Company 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.