Insider Selling: Align Technology CEO Sells 14,896 Shares of Stock (ALGN)
Align Technology (NASDAQ:ALGN) CEO Thomas M. Prescott unloaded 14,896 shares of Align Technology 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 transaction of $820,322.72. Following the completion of the transaction, the chief executive officer now directly owns 216,968 shares of the company’s stock, valued at approximately $11,948,428. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $62.71.
Align Technology (NASDAQ:ALGN) opened at 54.485 on Friday. Align Technology has a 52-week low of $41.83 and a 52-week high of $65.10. The stock’s 50-day moving average is $54.28 and its 200-day moving average is $53.17. The company has a market cap of $4.402 billion and a P/E ratio of 31.68.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.43 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.36 earnings per share. Align Technology’s revenue was up 17.5% compared to the same quarter last year. 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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