Align Technology, Inc. (NASDAQ:ALGN) VP Julie Tay sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $253.00, for a total transaction of $885,500.00. Following the transaction, the vice president now directly owns 12,213 shares of the company’s stock, valued at approximately $3,089,889. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Align Technology, Inc. (NASDAQ ALGN) opened at $254.92 on Friday. The firm has a market cap of $19,979.48, a P/E ratio of 73.72, a PEG ratio of 2.38 and a beta of 1.42. Align Technology, Inc. has a 1-year low of $88.56 and a 1-year high of $257.60.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.19. The firm had revenue of $385.30 million during the quarter, compared to analyst estimates of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The business’s quarterly revenue was up 38.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. equities analysts forecast that Align Technology, Inc. will post 3.62 EPS for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. IFM Investors Pty Ltd bought a new stake in shares of Align Technology in the 3rd quarter worth approximately $401,000. Fieldpoint Private Securities LLC bought a new stake in shares of Align Technology in the 3rd quarter worth approximately $255,000. Neuberger Berman Group LLC lifted its holdings in shares of Align Technology by 1,899.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 101,435 shares of the medical equipment provider’s stock worth $18,894,000 after acquiring an additional 96,361 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Align Technology by 7.4% in the 3rd quarter. California Public Employees Retirement System now owns 236,983 shares of the medical equipment provider’s stock worth $44,143,000 after acquiring an additional 16,283 shares during the last quarter. Finally, Bamco Inc. NY raised its holdings in Align Technology by 9.2% during the 3rd quarter. Bamco Inc. NY now owns 116,493 shares of the medical equipment provider’s stock valued at $21,699,000 after buying an additional 9,839 shares during the last quarter. Hedge funds and other institutional investors own 80.86% of the company’s stock.
A number of equities analysts have commented on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $205.00 price target (up previously from $200.00) on shares of Align Technology in a research note on Monday, August 7th. Credit Suisse Group reissued a “positive” rating and issued a $261.00 price target (up previously from $209.00) on shares of Align Technology in a research note on Thursday, November 9th. The Goldman Sachs Group, Inc. boosted their price target on shares of Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, September 15th. Robert W. Baird set a $208.00 price target on shares of Align Technology and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Bank of America Corporation raised shares of Align Technology from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $175.00 to $193.00 in a research note on Friday, July 28th. Eleven investment analysts have rated the stock with a buy rating, Align Technology presently has a consensus rating of “Buy” and a consensus price target of $219.18.
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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