John Morici Sells 1,500 Shares of Align Technology, Inc. (NASDAQ:ALGN) Stock

Align Technology, Inc. (NASDAQ:ALGN) CFO John Morici sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $255.00, for a total transaction of $382,500.00. Following the completion of the sale, the chief financial officer now owns 1,544 shares of the company’s stock, valued at $393,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Align Technology, Inc. (NASDAQ ALGN) traded up $5.65 during trading on Wednesday, hitting $233.01. The stock had a trading volume of 1,215,400 shares, compared to its average volume of 1,023,886. Align Technology, Inc. has a one year low of $88.56 and a one year high of $266.41. The company has a market cap of $18,104.13, a PE ratio of 66.81, a P/E/G ratio of 2.16 and a beta of 1.43.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.19. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The business had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $359.80 million. During the same quarter in the prior year, the business earned $0.63 EPS. The firm’s revenue for the quarter was up 38.3% on a year-over-year basis. sell-side analysts expect that Align Technology, Inc. will post 3.62 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Align Technology by 16.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock worth $1,095,740,000 after buying an additional 1,034,254 shares during the last quarter. State Street Corp lifted its position in shares of Align Technology by 32.2% during the 2nd quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock worth $471,823,000 after buying an additional 765,189 shares during the last quarter. Federated Investors Inc. PA lifted its position in shares of Align Technology by 794.9% during the 2nd quarter. Federated Investors Inc. PA now owns 685,086 shares of the medical equipment provider’s stock worth $102,846,000 after buying an additional 608,535 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Align Technology by 200.5% during the 2nd quarter. Janus Henderson Group PLC now owns 594,124 shares of the medical equipment provider’s stock worth $89,190,000 after buying an additional 396,426 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of Align Technology by 568.4% during the 2nd quarter. Voya Investment Management LLC now owns 441,451 shares of the medical equipment provider’s stock worth $66,271,000 after buying an additional 375,409 shares during the last quarter. 83.91% of the stock is currently owned by institutional investors.

A number of analysts recently weighed in on ALGN shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $225.00 price objective (up previously from $205.00) on shares of Align Technology in a report on Thursday, October 19th. Robert W. Baird restated a “buy” rating and set a $290.00 price objective on shares of Align Technology in a research report on Wednesday, November 29th. Morgan Stanley upped their price objective on shares of Align Technology from $257.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, November 27th. Northcoast Research reaffirmed 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. Finally, Credit Suisse Group reaffirmed a “positive” rating and set a $261.00 price objective (up previously from $209.00) on shares of Align Technology in a research report on Thursday, November 9th. Eleven research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average price target of $235.55.

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Align Technology Company Profile

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.

Insider Buying and Selling by Quarter for Align Technology (NASDAQ:ALGN)

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