Bank of Montreal Can Has $35.72 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Bank of Montreal Can increased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 73.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,192 shares of the medical equipment provider’s stock after acquiring an additional 59,436 shares during the period. Bank of Montreal Can owned about 0.19% of Align Technology worth $35,722,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALGN. Cullen Frost Bankers Inc. increased its stake in Align Technology by 854.5% in 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 during the last quarter. Innealta Capital LLC purchased a new stake in Align Technology in the 2nd quarter valued at about $26,000. Rothschild Investment LLC purchased a new stake in Align Technology in the 2nd quarter valued at about $26,000. Versant Capital Management Inc increased its stake 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 last quarter. Finally, LRI Investments LLC purchased a new stake in Align Technology in the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Trading Up 0.8 %

ALGN opened at $229.66 on Friday. The company has a 50 day moving average of $226.83 and a 200 day moving average of $236.87. The company has a market cap of $17.14 billion, a PE ratio of 39.19, a price-to-earnings-growth ratio of 6.23 and a beta of 1.65. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40.

Align Technology (NASDAQ:ALGN) last released 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. The company had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. Align Technology’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $1.62 EPS. Research analysts forecast that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALGN has been the subject of several analyst reports. Robert W. Baird decreased their price objective 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. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Stifel Nicolaus reduced their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Evercore ISI reduced their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Morgan Stanley reduced 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 report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $276.38.

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.