Align Technology, Inc. (NASDAQ:ALGN) Director Thomas M. Prescott sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $301.83, for a total value of $10,564,050.00. Following the completion of the transaction, the director now owns 114,860 shares of the company’s stock, valued at $34,668,193.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

NASDAQ:ALGN opened at $296.13 on Friday. Align Technology, Inc. has a 52 week low of $127.88 and a 52 week high of $326.36. The company has a quick ratio of 1.08, a current ratio of 1.22 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $23.65 billion, a P/E ratio of 13.77, a P/E/G ratio of 21.08 and a beta of 2.01. The stock’s fifty day moving average is $279.81 and its two-hundred day moving average is $239.83.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, July 22nd. The medical equipment provider reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.06). Align Technology had a net margin of 78.75% and a return on equity of 81.50%. The business had revenue of $352.31 million during the quarter, compared to analysts’ expectations of $345.50 million. During the same quarter in the prior year, the firm earned $1.83 EPS. Sell-side analysts anticipate that Align Technology, Inc. will post 1.15 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of ALGN. Ameritas Investment Company LLC purchased a new stake in Align Technology in the first quarter valued at $26,000. Allworth Financial LP purchased a new stake in Align Technology in the second quarter valued at $27,000. Financial Management Professionals Inc. purchased a new stake in Align Technology in the second quarter valued at $63,000. Meeder Asset Management Inc. raised its position in Align Technology by 24.8% in the first quarter. Meeder Asset Management Inc. now owns 378 shares of the medical equipment provider’s stock valued at $66,000 after purchasing an additional 75 shares during the period. Finally, Beese Fulmer Investment Management Inc. purchased a new stake in Align Technology in the second quarter valued at $82,000. Institutional investors own 86.02% of the company’s stock.

A number of research firms have recently commented on ALGN. Credit Suisse Group lowered their target price on Align Technology from $320.00 to $275.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. TheStreet cut Align Technology from a “b-” rating to a “c+” rating in a research report on Wednesday, July 22nd. ValuEngine cut Align Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, June 30th. BidaskClub raised Align Technology from a “sell” rating to a “hold” rating in a research note on Thursday, April 30th. Finally, Bank of America lowered Align Technology from a “neutral” rating to an “underperform” rating and set a $280.00 price target on the stock. in a research note on Monday, July 20th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Align Technology presently has an average rating of “Hold” and a consensus price target of $276.40.

About Align Technology

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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