Align Technology Inc. (ALGN) CFO David L. White Sells 11,152 Shares of Stock
Align Technology Inc. (NASDAQ:ALGN) CFO David L. White sold 11,152 shares of Align Technology stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $95.53, for a total transaction of $1,065,350.56. Following the completion of the sale, the chief financial officer now owns 9,473 shares of the company’s stock, valued at $904,955.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Align Technology Inc. (NASDAQ:ALGN) opened at 96.18 on Tuesday. Align Technology Inc. has a 52-week low of $57.31 and a 52-week high of $98.62. The firm’s 50-day moving average is $89.65 and its 200-day moving average is $86.82. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 41.10 and a beta of 1.33.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.11. The company had revenue of $278.60 million for the quarter, compared to analyst estimates of $271.61 million. Align Technology had a net margin of 18.78% and a return on equity of 21.09%. The business’s revenue for the quarter was up 34.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. Analysts predict that Align Technology Inc. will post $2.41 earnings per share for the current year.
A number of research firms recently commented on ALGN. Robert W. Baird cut shares of Align Technology from an “outperform” rating to a “neutral” rating and set a $96.00 target price for the company. in a research note on Monday, October 3rd. Morgan Stanley set a $114.00 target price on shares of Align Technology and gave the stock a “buy” rating in a research note on Wednesday, October 19th. Zacks Investment Research cut shares of Align Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, October 12th. Jefferies Group reiterated a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Align Technology in a research note on Tuesday, November 8th. Finally, Stifel Nicolaus lifted their target price on shares of Align Technology from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Align Technology presently has a consensus rating of “Buy” and a consensus target price of $89.82.
Hedge funds have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Align Technology by 27,527.6% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 897,621 shares of the company’s stock worth $84,152,000 after buying an additional 894,372 shares during the period. Fiera Capital Corp acquired a new stake in shares of Align Technology during the second quarter worth about $61,823,000. 1832 Asset Management L.P. acquired a new stake in shares of Align Technology during the third quarter worth about $55,126,000. Emerald Acquisition Ltd. acquired a new stake in shares of Align Technology during the second quarter worth about $40,582,000. Finally, Old Mutual Global Investors UK Ltd. raised its stake in shares of Align Technology by 657.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 527,274 shares of the company’s stock worth $49,431,000 after buying an additional 457,690 shares during the period. Institutional investors own 83.51% 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 and 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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