Greg J. Santora Sells 7,700 Shares of Align Technology, Inc. (ALGN) Stock
Align Technology, Inc. (NASDAQ:ALGN) Director Greg J. Santora sold 7,700 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $238.95, for a total transaction of $1,839,915.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.19. The company had revenue of $385.30 million during the quarter, compared to the consensus estimate of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The firm’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 earnings per share.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. purchased a new stake in Align Technology during the third quarter worth about $107,000. CENTRAL TRUST Co increased its holdings in Align Technology by 128.5% during the second quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock worth $105,000 after buying an additional 392 shares during the last quarter. Schroder Investment Management Group purchased a new stake in Align Technology during the second quarter worth about $104,000. Bronfman E.L. Rothschild L.P. increased its holdings in Align Technology by 13.0% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock worth $137,000 after buying an additional 105 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new stake in Align Technology during the second quarter worth about $148,000. Institutional investors and hedge funds own 80.96% of the company’s stock.
Several research analysts have recently weighed in on ALGN shares. Credit Suisse Group restated an “outperform” rating and set a $170.00 price objective (up from $140.00) on shares of Align Technology in a research note on Thursday, July 13th. Northcoast Research restated a “buy” rating and set a $230.00 price objective (up from $200.00) on shares of Align Technology in a research note on Tuesday, October 10th. Morgan Stanley restated an “overweight” rating and set a $182.00 price objective (up from $175.00) on shares of Align Technology in a research note on Monday, July 17th. Zacks Investment Research lowered shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 21st. Finally, Piper Jaffray Companies restated a “buy” rating and set a $200.00 price objective on shares of Align Technology in a research note on Monday, September 11th. Eleven research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus price target of $214.45.
About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/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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