Align Technology CEO Thomas M. Prescott Unloads 14,896 Shares (ALGN)
Align Technology (NASDAQ:ALGN) CEO Thomas M. Prescott unloaded 14,896 shares of the company’s stock on the open market in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $55.07, for a total value of $820,322.72. Following the sale, the chief executive officer now directly owns 216,968 shares of the company’s stock, valued at approximately $11,948,428. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Align Technology in a research note on Friday, July 25th. They now have a $60.00 price target on the stock, up previously from $55.00. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $62.71.
Shares of Align Technology (NASDAQ:ALGN) traded down 0.09% during mid-day trading on Wednesday, hitting $55.09. 272,586 shares of the company’s stock traded hands. Align Technology has a 1-year low of $41.83 and a 1-year high of $65.10. The stock has a 50-day moving average of $54.41 and a 200-day moving average of $53.15. The company has a market cap of $4.451 billion and a P/E ratio of 31.71.
Align Technology (NASDAQ:ALGN) last released its earnings data on Thursday, July 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The company had revenue of $192.53 million for the quarter, compared to the consensus estimate of $185.80 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, analysts predict that Align Technology will post $1.77 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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