Warren S. Thaler Sells 8,500 Shares of Align Technology Inc. (ALGN) Stock
Align Technology Inc. (NASDAQ:ALGN) Director Warren S. Thaler sold 8,500 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 42,400 shares of the company’s stock, valued at approximately $4,052,168. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Align Technology Inc. (NASDAQ:ALGN) opened at 93.05 on Thursday. The firm’s 50 day moving average price is $90.31 and its 200-day moving average price is $87.47. The company has a market capitalization of $7.42 billion, a PE ratio of 39.76 and a beta of 1.33. Align Technology Inc. has a 12-month low of $57.31 and a 12-month high of $98.62.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.11. The company earned $278.60 million during the quarter, compared to analysts’ expectations of $271.61 million. Align Technology had a return on equity of 21.09% and a net margin of 18.78%. Align Technology’s revenue for the quarter was up 34.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, equities analysts anticipate that Align Technology Inc. will post $2.41 earnings per share for the current fiscal year.
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Several research analysts have recently issued reports on ALGN shares. Morgan Stanley set a $114.00 price objective on Align Technology and gave the company a “buy” rating in a research note on Wednesday, October 19th. Zacks Investment Research downgraded Align Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, October 12th. Jefferies Group reaffirmed a “buy” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Align Technology in a research note on Tuesday, November 8th. Robert W. Baird downgraded Align Technology from an “outperform” rating to a “neutral” rating and set a $96.00 price objective for the company. in a research note on Monday, October 3rd. Finally, Stifel Nicolaus upped their price objective on Align Technology from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Align Technology has a consensus rating of “Buy” and an average price target of $91.18.
Hedge funds have recently bought and sold shares of the stock. A.R.T. Advisors LLC boosted its stake in Align Technology by 45.2% in the first quarter. A.R.T. Advisors LLC now owns 9,637 shares of the company’s stock worth $700,000 after buying an additional 3,000 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Align Technology by 2.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 69,612 shares of the company’s stock worth $5,060,000 after buying an additional 1,963 shares during the period. Arizona State Retirement System boosted its stake in Align Technology by 5.6% in the first quarter. Arizona State Retirement System now owns 39,760 shares of the company’s stock worth $2,890,000 after buying an additional 2,100 shares during the period. Squarepoint Ops LLC purchased a new stake in Align Technology during the first quarter worth approximately $1,338,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Align Technology by 3,580.4% in the second quarter. BNP Paribas Arbitrage SA now owns 28,781 shares of the company’s stock worth $2,318,000 after buying an additional 27,999 shares during the period. Institutional investors 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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