Align Technology Inc. (ALGN) Sets New 12-Month High at $96.57
Shares of Align Technology Inc. (NASDAQ:ALGN) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $96.57 and last traded at $94.56, with a volume of 325,098 shares changing hands. The stock had previously closed at $95.78.
ALGN has been the subject of several recent research reports. Stifel Nicolaus increased 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. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $82.00 price objective (up previously from $74.00) on shares of Align Technology in a research report on Tuesday, May 17th. Zacks Investment Research downgraded shares of Align Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Credit Suisse Group AG initiated coverage on shares of Align Technology in a research report on Wednesday, May 11th. They issued an “outperform” rating and a $84.00 price objective for the company. Finally, Leerink Swann reaffirmed a “buy” rating on shares of Align Technology in a research report on Saturday, June 4th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $83.09.
The stock has a 50-day moving average of $90.41 and a 200 day moving average of $78.51. The stock has a market cap of $7.57 billion and a PE ratio of 46.12.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.14. The firm had revenue of $269.40 million for the quarter, compared to analyst estimates of $259.29 million. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. On average, equities analysts predict that Align Technology Inc. will post $2.27 EPS for the current fiscal year.
In related news, VP Julie Tay sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $92.60, for a total value of $277,800.00. Following the transaction, the vice president now directly owns 3,104 shares of the company’s stock, valued at approximately $287,430.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jennifer Olson sold 799 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $93.30, for a total value of $74,546.70. Following the completion of the transaction, the vice president now directly owns 4,483 shares in the company, valued at $418,263.90. 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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