Align Technology, Inc. (NASDAQ:ALGN) SVP Julie Tay sold 13,500 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $322.41, for a total value of $4,352,535.00. Following the completion of the sale, the senior vice president now directly owns 24,096 shares in the company, valued at approximately $7,768,791.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Julie Tay also recently made the following trade(s):
- On Wednesday, May 8th, Julie Tay sold 3,560 shares of Align Technology stock. The shares were sold at an average price of $325.00, for a total value of $1,157,000.00.
Shares of ALGN traded up $10.91 during trading hours on Thursday, reaching $331.00. 506,293 shares of the company traded hands, compared to its average volume of 1,360,607. The firm has a market cap of $25.89 billion, a P/E ratio of 67.28, a PEG ratio of 2.49 and a beta of 2.14. Align Technology, Inc. has a fifty-two week low of $177.93 and a fifty-two week high of $398.88.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. The business had revenue of $549.00 million for the quarter, compared to analyst estimates of $532.16 million. Align Technology had a return on equity of 30.58% and a net margin of 18.10%. The business’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 earnings per share. On average, research analysts forecast that Align Technology, Inc. will post 5.33 earnings per share for the current fiscal year.
Several research firms have weighed in on ALGN. BidaskClub raised Align Technology from a “hold” rating to a “buy” rating in a report on Friday, April 26th. UBS Group set a $325.00 target price on Align Technology and gave the company a “hold” rating in a report on Friday, April 26th. Credit Suisse Group upped their target price on Align Technology from $305.00 to $316.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Zacks Investment Research raised Align Technology from a “hold” rating to a “buy” rating and set a $333.00 target price on the stock in a report on Friday, April 26th. Finally, Piper Jaffray Companies upped their target price on Align Technology from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $340.07.
Several institutional investors and hedge funds have recently bought and sold shares of ALGN. BlackRock Inc. boosted its stake in shares of Align Technology by 31.7% during the fourth quarter. BlackRock Inc. now owns 6,935,085 shares of the medical equipment provider’s stock valued at $1,452,414,000 after acquiring an additional 1,670,441 shares during the last quarter. Viking Global Investors LP boosted its stake in shares of Align Technology by 220.1% during the first quarter. Viking Global Investors LP now owns 1,795,990 shares of the medical equipment provider’s stock valued at $510,654,000 after acquiring an additional 1,234,890 shares during the last quarter. Norges Bank acquired a new stake in shares of Align Technology during the fourth quarter valued at $180,162,000. Goldman Sachs Group Inc. boosted its stake in shares of Align Technology by 68.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,173,060 shares of the medical equipment provider’s stock valued at $333,537,000 after acquiring an additional 478,597 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Align Technology by 22.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,334,677 shares of the medical equipment provider’s stock valued at $279,521,000 after acquiring an additional 244,095 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.
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Align Technology Company Profile
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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