Align Technology, Inc. (ALGN) Director Sells $7,755,288.84 in Stock

Align Technology, Inc. (NASDAQ:ALGN) Director Joseph Lacob sold 29,724 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $260.91, for a total transaction of $7,755,288.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Align Technology, Inc. (NASDAQ ALGN) traded down $6.81 during trading on Friday, hitting $254.07. 1,355,083 shares of the stock were exchanged, compared to its average volume of 1,005,909. Align Technology, Inc. has a one year low of $88.56 and a one year high of $266.41. The firm has a market cap of $20,370.00, a P/E ratio of 78.18, a price-to-earnings-growth ratio of 2.52 and a beta of 1.41.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.19. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The company had revenue of $385.30 million during the quarter, compared to the consensus estimate of $359.80 million. During the same period in the prior year, the business posted $0.63 EPS. The company’s quarterly revenue was up 38.3% on a year-over-year basis. research analysts expect that Align Technology, Inc. will post 3.62 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Honkamp Krueger Financial Services Inc. boosted its stake in shares of Align Technology by 1.7% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 2,037 shares of the medical equipment provider’s stock worth $306,000 after buying an additional 34 shares during the last quarter. Buckingham Asset Management LLC lifted its stake in Align Technology by 3.3% in the 2nd quarter. Buckingham Asset Management LLC now owns 1,861 shares of the medical equipment provider’s stock valued at $279,000 after purchasing an additional 59 shares during the last quarter. Security Asset Management lifted its stake in Align Technology by 0.5% in the 2nd quarter. Security Asset Management now owns 12,735 shares of the medical equipment provider’s stock valued at $1,912,000 after purchasing an additional 65 shares during the last quarter. BB&T Securities LLC lifted its stake in Align Technology by 3.5% in the 2nd quarter. BB&T Securities LLC now owns 2,757 shares of the medical equipment provider’s stock valued at $413,000 after purchasing an additional 94 shares during the last quarter. Finally, Wrapmanager Inc. lifted its stake in Align Technology by 2.6% in the 2nd quarter. Wrapmanager Inc. now owns 3,835 shares of the medical equipment provider’s stock valued at $576,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 83.88% of the company’s stock.

A number of equities analysts recently weighed in on ALGN shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $205.00 target price (up from $200.00) on shares of Align Technology in a research note on Monday, August 7th. Zacks Investment Research lowered shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 21st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $200.00 target price on shares of Align Technology in a research note on Monday, September 11th. Robert W. Baird reaffirmed a “buy” rating on shares of Align Technology in a research note on Tuesday, September 12th. Finally, Goldman Sachs Group upped their target price on shares of Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, September 15th. Eleven research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $235.55.

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About Align Technology

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

Insider Buying and Selling by Quarter for Align Technology (NASDAQ:ALGN)

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