A number of other research firms have also recently commented on ALGN. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Credit Suisse Group reissued a hold rating and issued a $32.00 target price on shares of CRH in a report on Thursday, April 25th. Barclays increased their target price on shares of T. Rowe Price Group from $90.00 to $95.00 and gave the stock an underweight rating in a report on Thursday, April 25th. Piper Jaffray Companies reissued an overweight rating and issued a $760.00 target price (up previously from $755.00) on shares of Chipotle Mexican Grill in a report on Thursday, April 25th. Finally, Zacks Investment Research cut shares of HENGAN INTL GRP/ADR from a strong-buy rating to a hold rating in a report on Tuesday, May 21st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Align Technology currently has an average rating of Buy and a consensus price target of $323.73.
ALGN opened at $283.91 on Thursday. Align Technology has a twelve month low of $177.93 and a twelve month high of $398.88. The business’s 50-day moving average price is $290.90. The company has a market capitalization of $22.71 billion, a PE ratio of 57.71, a price-to-earnings-growth ratio of 2.25 and a beta of 1.97.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.06. Align Technology had a net margin of 18.10% and a return on equity of 30.58%. The business had revenue of $549.00 million during the quarter, compared to analysts’ expectations of $532.16 million. During the same quarter in the prior year, the business posted $1.17 earnings per share. Align Technology’s revenue was up 25.7% compared to the same quarter last year. On average, analysts expect that Align Technology will post 5.4 EPS for the current fiscal year.
In other news, CMO Raphael Pascaud sold 15,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $326.18, for a total value of $4,892,700.00. Following the completion of the transaction, the chief marketing officer now owns 34,092 shares of the company’s stock, valued at $11,120,128.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John Morici sold 2,374 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $286.91, for a total transaction of $681,124.34. Following the completion of the transaction, the chief financial officer now directly owns 2,913 shares of the company’s stock, valued at approximately $835,768.83. The disclosure for this sale can be found here. Insiders sold 55,283 shares of company stock valued at $17,483,871 in the last three months. Company insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ALGN. Bessemer Group Inc. increased its holdings in shares of Align Technology by 68.3% during the 4th quarter. Bessemer Group Inc. now owns 281 shares of the medical equipment provider’s stock worth $59,000 after buying an additional 114 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Align Technology by 9.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,425 shares of the medical equipment provider’s stock worth $508,000 after buying an additional 200 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Align Technology by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 351,775 shares of the medical equipment provider’s stock worth $73,674,000 after buying an additional 11,709 shares during the last quarter. Flinton Capital Management LLC increased its holdings in shares of Align Technology by 16.3% during the 4th quarter. Flinton Capital Management LLC now owns 3,388 shares of the medical equipment provider’s stock worth $710,000 after buying an additional 476 shares during the last quarter. Finally, Berman Capital Advisors LLC acquired a new stake in shares of Align Technology during the 4th quarter worth $27,000. Institutional investors and hedge funds own 82.62% of the company’s stock.
About Align Technology
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.
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