Align Technology, Inc. (NASDAQ:ALGN) Director Sells $5,453,700.00 in Stock

Align Technology, Inc. (NASDAQ:ALGN) Director Joseph Lacob sold 30,000 shares of Align Technology stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $181.79, for a total value of $5,453,700.00. Following the sale, the director now directly owns 564 shares in the company, valued at approximately $102,529.56. The sale was disclosed in a legal filing with the SEC, which is available through this link.

ALGN opened at $174.37 on Friday. Align Technology, Inc. has a one year low of $172.62 and a one year high of $398.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.85. The stock’s fifty day moving average is $240.08 and its 200-day moving average is $272.07. The company has a market capitalization of $14.35 billion, a PE ratio of 35.44, a P/E/G ratio of 1.47 and a beta of 1.95.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.13. The company had revenue of $600.70 million for the quarter, compared to the consensus estimate of $599.86 million. Align Technology had a return on equity of 29.26% and a net margin of 19.06%. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 EPS. On average, equities research analysts forecast that Align Technology, Inc. will post 5.03 EPS for the current fiscal year.

ALGN has been the topic of a number of research reports. Piper Jaffray Companies set a $240.00 price objective on Align Technology and gave the stock a “buy” rating in a research note on Wednesday, July 31st. ValuEngine raised Align Technology from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. UBS Group set a $230.00 price objective on Align Technology and gave the stock a “hold” rating in a research note on Friday, July 26th. Robert W. Baird dropped their price objective on Align Technology from $336.00 to $259.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, Wolfe Research initiated coverage on Align Technology in a research note on Thursday, May 30th. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $297.91.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stephens Investment Management Group LLC grew its holdings in shares of Align Technology by 36.2% in the 1st quarter. Stephens Investment Management Group LLC now owns 73,114 shares of the medical equipment provider’s stock worth $20,789,000 after acquiring an additional 19,452 shares during the last quarter. Allstate Corp grew its holdings in shares of Align Technology by 253.6% in the 1st quarter. Allstate Corp now owns 3,914 shares of the medical equipment provider’s stock worth $1,113,000 after acquiring an additional 2,807 shares during the last quarter. Brightworth grew its holdings in shares of Align Technology by 12.0% in the 2nd quarter. Brightworth now owns 11,478 shares of the medical equipment provider’s stock worth $3,142,000 after acquiring an additional 1,233 shares during the last quarter. Heritage Investors Management Corp grew its holdings in shares of Align Technology by 19.9% in the 2nd quarter. Heritage Investors Management Corp now owns 7,817 shares of the medical equipment provider’s stock worth $2,140,000 after acquiring an additional 1,296 shares during the last quarter. Finally, RDA Financial Network grew its holdings in shares of Align Technology by 10.4% in the 2nd quarter. RDA Financial Network now owns 2,524 shares of the medical equipment provider’s stock worth $687,000 after acquiring an additional 237 shares during the last quarter. Institutional investors and hedge funds own 83.14% of the company’s stock.

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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Insider Buying and Selling by Quarter for Align Technology (NASDAQ:ALGN)

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