Somewhat Favorable News Coverage Somewhat Unlikely to Affect Align Technology (ALGN) Share Price
Headlines about Align Technology (NASDAQ:ALGN) have trended somewhat positive recently, Accern Sentiment reports. The research firm identifies negative and positive press coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Align Technology earned a coverage optimism score of 0.09 on Accern’s scale. Accern also assigned news stories about the medical equipment provider an impact score of 46.8327673314459 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the media headlines that may have effected Accern’s scoring:
- Align Technology Inc (ALGN) AO Signal Trending Downward – Evergreen Caller (evergreencaller.com)
- Align Technology, Inc. (NASDAQ:ALGN) Stock Traded 6.4% Above Its 50 Day Average – Modern Readers (modernreaders.com)
- Exact Sciences Corporation (EXAS) vs. Align Technology, Inc. (ALGN): Breaking Down the Medical Laboratories … – StockNewsGazette (stocknewsgazette.com)
- Align Technology Up 77.6% Since SmarTrend Uptrend Call (ALGN) (mysmartrend.com)
- Align Technology, Inc. (ALGN) Stock Price trades 41.58% off from 200- SMA – Voice Of Analysts (analystsbuzz.com)
Shares of Align Technology (ALGN) traded down 1.57% on Friday, reaching $172.55. 823,047 shares of the company were exchanged. Align Technology has a 12-month low of $83.27 and a 12-month high of $179.76. The stock’s 50-day moving average is $165.44 and its 200 day moving average is $135.40. The firm has a market capitalization of $13.83 billion, a PE ratio of 59.09 and a beta of 1.55.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.12. The business had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $343.43 million. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The firm’s revenue for the quarter was up 32.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. On average, analysts forecast that Align Technology will post $3.40 EPS for the current year.
ALGN has been the subject of a number of research reports. Piper Jaffray Companies reissued a “buy” rating and issued a $176.00 target price on shares of Align Technology in a report on Friday, July 28th. Bank of America Corporation raised shares of Align Technology from a “neutral” rating to a “buy” rating and increased their target price for the stock from $175.00 to $193.00 in a report on Friday, July 28th. Stifel Nicolaus reissued a “buy” rating and issued a $200.00 target price (up previously from $145.00) on shares of Align Technology in a report on Friday, June 23rd. Northcoast Research reissued a “buy” rating and issued a $186.00 target price (up previously from $164.00) on shares of Align Technology in a report on Wednesday, June 21st. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $150.00 target price (up previously from $110.00) on shares of Align Technology in a report on Saturday, April 29th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $174.40.
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In other news, Director Joseph Lacob sold 50,000 shares of Align Technology stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $144.98, for a total value of $7,249,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sreelakshmi Kolli sold 1,000 shares of Align Technology stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $144.00, for a total value of $144,000.00. Following the completion of the transaction, the vice president now owns 23,785 shares of the company’s stock, valued at approximately $3,425,040. The disclosure for this sale can be found here. Insiders have sold a total of 54,874 shares of company stock valued at $7,950,701 in the last 90 days. 2.00% of the stock is currently owned by company insiders.
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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