Align Technology, Inc. (NASDAQ:ALGN) CFO John Morici sold 5,846 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $227.96, for a total value of $1,332,654.16. Following the transaction, the chief financial officer now directly owns 13,036 shares of the company’s stock, valued at approximately $2,971,686.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Align Technology stock opened at $243.74 on Friday. The business has a 50 day moving average of $196.35 and a 200-day moving average of $239.11. Align Technology, Inc. has a 1 year low of $127.88 and a 1 year high of $319.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.73 and a quick ratio of 1.60. The company has a market capitalization of $18.58 billion, a P/E ratio of 10.22, a P/E/G ratio of 15.59 and a beta of 1.97.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, April 29th. The medical equipment provider reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.27). Align Technology had a net margin of 78.42% and a return on equity of 107.18%. The firm had revenue of $551.00 million during the quarter, compared to analyst estimates of $557.54 million. During the same period in the prior year, the company earned $0.89 EPS. The business’s quarterly revenue was up .4% compared to the same quarter last year. Equities analysts anticipate that Align Technology, Inc. will post 1.41 EPS for the current year.

A number of hedge funds have recently made changes to their positions in ALGN. PSI Advisors LLC bought a new stake in Align Technology in the fourth quarter valued at approximately $25,000. Ameritas Investment Company LLC bought a new stake in Align Technology in the first quarter valued at approximately $26,000. Valeo Financial Advisors LLC boosted its holdings in Align Technology by 246.4% in the fourth quarter. Valeo Financial Advisors LLC now owns 97 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 69 shares during the last quarter. Orion Portfolio Solutions LLC bought a new stake in Align Technology in the fourth quarter valued at approximately $27,000. Finally, Evolution Wealth Advisors LLC boosted its holdings in Align Technology by 791.7% in the fourth quarter. Evolution Wealth Advisors LLC now owns 107 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 85.17% of the company’s stock.

ALGN has been the subject of several research analyst reports. 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 note on Thursday, April 30th. Piper Sandler lowered their target price on Align Technology from $275.00 to $258.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. UBS Group lowered their target price on Align Technology from $270.00 to $245.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. TheStreet downgraded Align Technology from a “b-” rating to a “c+” rating in a research note on Thursday, April 2nd. Finally, ValuEngine downgraded Align Technology from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $253.33.

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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