Align Technology Director Unloads $1,993,388 in Stock (ALGN)
Align Technology (NASDAQ:ALGN) Director Warren Thaler sold 35,250 shares of the stock on the open market in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $56.55, for a total value of $1,993,387.50. Following the completion of the transaction, the director now directly owns 51,900 shares of the company’s stock, valued at approximately $2,934,945. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on ALGN. Analysts at Roth Capital raised their price target on shares of Align Technology from $46.00 to $56.00 in a research note to investors on Friday, October 18th. They now have a “buy” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Align Technology from $43.00 to $52.00 in a research note to investors on Friday, October 18th. They now have a “hold” rating on the stock. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Align Technology in a research note to investors on Friday, October 18th. They now have a $55.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Align Technology has a consensus rating of “Hold” and an average price target of $44.83.
Shares of Align Technology (NASDAQ:ALGN) traded down 0.54% on Friday, hitting $56.75. 710,511 shares of the company’s stock traded hands. Align Technology has a 1-year low of $23.45 and a 1-year high of $47.63. The stock’s 50-day moving average is $49.30 and its 200-day moving average is $41.39. The company has a market cap of $4.538 billion and a P/E ratio of 150.16.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Thursday, October 17th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. The company had revenue of $164.50 million for the quarter, compared to the consensus estimate of $158.64 million. During the same quarter last year, the company posted $0.28 earnings per share. Align Technology’s revenue was up 20.5% compared to the same quarter last year. On average, analysts predict that Align Technology will post $1.47 earnings per share for the current fiscal year.
Align Technology, Inc (NASDAQ:ALGN), designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics, and dental records storage.
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