Key Points
- John Morici, Align's EVP, sold 7,969 shares on Feb. 18 at an average price of $189.31 for roughly $1.51M, reducing his ownership by 49.17% to 8,237 shares valued around $1.56M.
- Align beat the quarter with EPS of $3.29 versus a $2.99 estimate and revenue of $1.05B (up 5.3% year-over-year), with a net margin of 10.17%.
- Analyst sentiment is mixed — six Buys and eight Holds — giving a consensus rating of "Hold" and a consensus target price of about $195.58, amid several recent price-target raises.
Align Technology, Inc. (NASDAQ:ALGN - Get Free Report) EVP John Morici sold 7,969 shares of Align Technology stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the completion of the sale, the executive vice president owned 8,237 shares of the company's stock, valued at $1,559,346.47. This trade represents a 49.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Align Technology Trading Up 0.3%
NASDAQ:ALGN opened at $190.02 on Friday. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $208.30. The company has a market cap of $13.63 billion, a PE ratio of 33.57, a P/E/G ratio of 2.08 and a beta of 1.84. The company's 50 day moving average is $169.74 and its two-hundred day moving average is $149.29.
Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.99 by $0.30. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The business's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $2.44 earnings per share. As a group, analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.
Analyst Ratings Changes
Several research firms have weighed in on ALGN. Morgan Stanley boosted their price target on Align Technology from $154.00 to $169.00 and gave the company an "equal weight" rating in a research note on Thursday, February 5th. Mizuho raised their price objective on Align Technology from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Thursday, February 5th. HSBC lifted their target price on Align Technology from $140.00 to $150.00 in a report on Friday, October 31st. Evercore increased their price target on shares of Align Technology from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Thursday, February 5th. Finally, Wall Street Zen upgraded shares of Align Technology from a "hold" rating to a "buy" rating in a research note on Saturday, January 3rd. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $195.58.
Read Our Latest Research Report on Align Technology
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of ALGN. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in Align Technology by 3.7% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,896 shares of the medical equipment provider's stock worth $296,000 after purchasing an additional 68 shares in the last quarter. Atria Investments Inc lifted its stake in shares of Align Technology by 4.9% in the 2nd quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider's stock valued at $298,000 after purchasing an additional 74 shares during the period. Comerica Bank lifted its stake in shares of Align Technology by 0.6% in the 4th quarter. Comerica Bank now owns 13,656 shares of the medical equipment provider's stock valued at $2,132,000 after purchasing an additional 76 shares during the period. Arizona State Retirement System boosted its holdings in Align Technology by 0.4% during the third quarter. Arizona State Retirement System now owns 20,387 shares of the medical equipment provider's stock worth $2,553,000 after buying an additional 79 shares in the last quarter. Finally, Sentry Investment Management LLC boosted its holdings in Align Technology by 73.1% during the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider's stock worth $25,000 after buying an additional 79 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.
About Align Technology
(
Get Free Report)
Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.
The company's signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.
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