Align Technology Inc. (ALGN) Shares Gap Down to $93.76
Align Technology Inc. (NASDAQ:ALGN) shares gapped down before the market opened on Monday . The stock had previously closed at $93.25, but opened at $93.76. Align Technology shares last traded at $95.78, with a volume of 869,900 shares trading hands.
A number of research analysts have weighed in on ALGN shares. Morgan Stanley reiterated a “buy” rating on shares of Align Technology in a research report on Saturday, May 14th. Robert W. Baird reiterated a “buy” rating on shares of Align Technology in a research report on Saturday, June 4th. Stifel Nicolaus boosted their price objective on shares of Align Technology from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating and set a $97.00 price objective on the stock in a research report on Wednesday, July 13th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $82.00 price objective (up previously from $74.00) on shares of Align Technology in a research report on Tuesday, May 17th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Align Technology has a consensus rating of “Buy” and a consensus price target of $83.09.
The firm has a market capitalization of $7.67 billion and a P/E ratio of 46.72. The firm has a 50 day moving average price of $90.41 and a 200-day moving average price of $78.51.
Align Technology (NASDAQ:ALGN) last issued its earnings results on Thursday, July 28th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. During the same period last year, the business earned $0.39 earnings per share. The company earned $269.40 million during the quarter, compared to analyst estimates of $259.29 million. The firm’s revenue was up 28.6% compared to the same quarter last year. On average, equities research analysts anticipate that Align Technology Inc. will post $2.27 EPS for the current year.
In related news, VP Zelko Relic sold 13,577 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $95.91, for a total transaction of $1,302,170.07. Following the completion of the sale, the vice president now directly owns 1,375 shares of the company’s stock, valued at approximately $131,876.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Julie Tay sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $92.60, for a total value of $277,800.00. Following the sale, the vice president now directly owns 3,104 shares of the company’s stock, valued at $287,430.40. The disclosure for this sale can be found here.
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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