Align Technology, Inc. (NASDAQ:ALGN) Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $231.82, for a total value of $2,318,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of NASDAQ ALGN traded up $5.81 during mid-day trading on Monday, reaching $235.70. 1,348,160 shares of the company’s stock were exchanged, compared to its average volume of 1,084,242. The stock has a market cap of $18.39 billion, a PE ratio of 60.59, a P/E/G ratio of 2.00 and a beta of 2.05. Align Technology, Inc. has a 52-week low of $188.57 and a 52-week high of $398.88.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. The business had revenue of $505.30 million during the quarter, compared to analysts’ expectations of $503.14 million. Align Technology had a return on equity of 34.09% and a net margin of 16.89%. The company’s revenue was up 31.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 EPS. Analysts expect that Align Technology, Inc. will post 4.87 EPS for the current fiscal year.
ALGN has been the subject of several analyst reports. Goldman Sachs Group initiated coverage on Align Technology in a report on Saturday, October 20th. They issued a “buy” rating and a $420.00 target price for the company. BidaskClub cut Align Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, October 5th. Morgan Stanley upped their target price on Align Technology from $315.00 to $320.00 and gave the company an “equal weight” rating in a report on Tuesday, October 9th. William Blair restated an “outperform” rating on shares of Align Technology in a report on Monday, November 19th. Finally, Credit Suisse Group dropped their target price on Align Technology from $391.00 to $375.00 and set an “outperform” rating for the company in a report on Thursday, October 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $352.20.
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About Align Technology
Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.
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