Joseph M. Hogan Purchases 4,995 Shares of Align Technology, Inc. (NASDAQ:ALGN) Stock

Align Technology, Inc. (NASDAQ:ALGN) insider Joseph M. Hogan purchased 4,995 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $199.83 per share, for a total transaction of $998,150.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

NASDAQ:ALGN traded up $0.07 during trading hours on Tuesday, reaching $188.44. 1,125,973 shares of the company were exchanged, compared to its average volume of 1,333,803. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.85. The stock has a 50-day moving average of $258.65. The firm has a market cap of $15.92 billion, a price-to-earnings ratio of 38.30, a PEG ratio of 1.63 and a beta of 1.95. Align Technology, Inc. has a twelve month low of $177.93 and a twelve month high of $398.88.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.13. The company had revenue of $600.70 million during the quarter, compared to analysts’ expectations of $599.86 million. Align Technology had a net margin of 19.06% and a return on equity of 29.26%. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 earnings per share. As a group, research analysts anticipate that Align Technology, Inc. will post 5.03 EPS for the current fiscal year.

A number of analysts recently issued reports on ALGN shares. Guggenheim started coverage on shares of Align Technology in a report on Wednesday, April 17th. They set a “buy” rating and a $335.00 price target on the stock. UBS Group set a $230.00 price target on shares of Align Technology and gave the stock a “hold” rating in a report on Friday, July 26th. Zacks Investment Research downgraded shares of Align Technology from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Barclays increased their price target on shares of Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, Credit Suisse Group lowered their price target on shares of Align Technology from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $297.91.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in shares of Align Technology by 4.4% in the first quarter. BlackRock Inc. now owns 7,239,770 shares of the medical equipment provider’s stock valued at $2,058,482,000 after buying an additional 304,685 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Align Technology by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,057,392 shares of the medical equipment provider’s stock valued at $221,101,000 after buying an additional 9,617 shares during the last quarter. Northern Trust Corp raised its position in shares of Align Technology by 6.2% in the first quarter. Northern Trust Corp now owns 980,494 shares of the medical equipment provider’s stock valued at $278,784,000 after buying an additional 57,586 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Align Technology by 5.2% in the first quarter. Wells Fargo & Company MN now owns 662,677 shares of the medical equipment provider’s stock valued at $188,420,000 after buying an additional 33,038 shares during the last quarter. Finally, TCW Group Inc. raised its position in shares of Align Technology by 1.2% in the first quarter. TCW Group Inc. now owns 422,161 shares of the medical equipment provider’s stock valued at $120,033,000 after buying an additional 4,894 shares during the last quarter. Institutional investors own 82.71% of the company’s stock.

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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