Align Technology, Inc. (NASDAQ:ALGN) has been given an average rating of “Buy” by the eight research firms that are presently covering the firm. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $102.40.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Align Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. Stifel Nicolaus increased their price objective on shares of Align Technology from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, November 28th. Finally, Jefferies Group LLC increased their price objective on shares of Align Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, January 23rd.
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Shares of Align Technology (NASDAQ:ALGN) opened at 114.02 on Tuesday. The firm has a market cap of $9.15 billion, a PE ratio of 48.94 and a beta of 1.40. The stock’s 50 day moving average is $104.05 and its 200 day moving average is $96.01. Align Technology has a 12 month low of $69.71 and a 12 month high of $114.99.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Tuesday, January 31st. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by $0.07. The firm had revenue of $293.20 million for the quarter, compared to analyst estimates of $292.75 million. Align Technology had a return on equity of 20.82% and a net margin of 17.57%. The company’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 earnings per share. Analysts forecast that Align Technology will post $2.98 EPS for the current fiscal year.
In related news, Director Joseph Lacob sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $102.67, for a total value of $5,133,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher C. Puco sold 24,353 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $101.88, for a total transaction of $2,481,083.64. Following the completion of the transaction, the vice president now owns 19,691 shares of the company’s stock, valued at approximately $2,006,119.08. The disclosure for this sale can be found here. Insiders sold 159,881 shares of company stock valued at $16,161,265 in the last three months. Company insiders own 2.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ALGN. Proficio Capital Partners LLC raised its position in shares of Align Technology by 369.0% in the third quarter. Proficio Capital Partners LLC now owns 1,271 shares of the company’s stock worth $119,000 after buying an additional 1,000 shares during the period. Pacad Investment Ltd. acquired a new position in shares of Align Technology during the fourth quarter worth about $183,000. Smithfield Trust Co. raised its position in shares of Align Technology by 8.3% in the third quarter. Smithfield Trust Co. now owns 2,080 shares of the company’s stock worth $195,000 after buying an additional 160 shares during the period. Carroll Financial Associates Inc. raised its position in shares of Align Technology by 0.5% in the third quarter. Carroll Financial Associates Inc. now owns 2,180 shares of the company’s stock worth $204,000 after buying an additional 10 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Align Technology by 14.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,179 shares of the company’s stock worth $204,000 after buying an additional 281 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.
About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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