Align Technology Inc. (ALGN) Director Warren S. Thaler Sells 8,500 Shares of Stock
Align Technology Inc. (NASDAQ:ALGN) Director Warren S. Thaler sold 8,500 shares of the stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $95.57, for a total value of $812,345.00. Following the completion of the sale, the director now owns 42,400 shares in the company, valued at $4,052,168. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Align Technology Inc. (NASDAQ:ALGN) opened at 95.51 on Wednesday. The firm’s 50 day moving average price is $90.31 and its 200 day moving average price is $87.47. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 40.82 and a beta of 1.33. Align Technology Inc. has a one year low of $57.31 and a one year high of $98.62.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.11. Align Technology had a net margin of 18.78% and a return on equity of 21.09%. The company earned $278.60 million during the quarter, compared to analysts’ expectations of $271.61 million. During the same period in the previous year, the company earned $0.34 EPS. The business’s quarterly revenue was up 34.3% compared to the same quarter last year. Equities analysts forecast that Align Technology Inc. will post $2.41 earnings per share for the current year.
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Several equities analysts recently commented on ALGN shares. Morgan Stanley set a $114.00 target price on Align Technology and gave the company a “buy” rating in a report on Wednesday, October 19th. Robert W. Baird lowered Align Technology from an “outperform” rating to a “neutral” rating and set a $96.00 target price on the stock. in a report on Monday, October 3rd. Zacks Investment Research lowered Align Technology from a “buy” rating to a “hold” rating in a report on Wednesday, October 12th. Stifel Nicolaus increased their target price on Align Technology from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday. Finally, Jefferies Group reissued a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Align Technology in a report on Tuesday, November 8th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $91.18.
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Align Technology by 7.8% in the second quarter. Vanguard Group Inc. now owns 5,552,971 shares of the company’s stock valued at $447,292,000 after buying an additional 401,560 shares during the last quarter. BlackRock Fund Advisors raised its position in Align Technology by 6.5% in the third quarter. BlackRock Fund Advisors now owns 2,799,603 shares of the company’s stock valued at $262,463,000 after buying an additional 171,338 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Align Technology by 1.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,222,362 shares of the company’s stock valued at $179,011,000 after buying an additional 40,594 shares during the last quarter. State Street Corp raised its position in Align Technology by 0.7% in the second quarter. State Street Corp now owns 2,054,677 shares of the company’s stock valued at $165,504,000 after buying an additional 13,966 shares during the last quarter. Finally, Polen Capital Management LLC raised its position in Align Technology by 11.3% in the second quarter. Polen Capital Management LLC now owns 1,670,121 shares of the company’s stock valued at $134,528,000 after buying an additional 169,516 shares during the last quarter. Institutional investors and hedge funds own 87.95% 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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