Align Technology, Inc. (ALGN) SVP Julie Tay Sells 13,500 Shares

Align Technology, Inc. (NASDAQ:ALGN) SVP Julie Tay sold 13,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $322.41, for a total transaction of $4,352,535.00. Following the sale, the senior vice president now owns 24,096 shares in the company, valued at $7,768,791.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Julie Tay also recently made the following trade(s):

  • On Wednesday, May 8th, Julie Tay sold 3,560 shares of Align Technology stock. The shares were sold at an average price of $325.00, for a total transaction of $1,157,000.00.

Shares of NASDAQ:ALGN traded up $5.62 on Wednesday, reaching $325.71. The company’s stock had a trading volume of 693,812 shares, compared to its average volume of 1,360,607. Align Technology, Inc. has a 52-week low of $177.93 and a 52-week high of $398.88. The stock has a market capitalization of $25.89 billion, a P/E ratio of 66.20, a PEG ratio of 2.49 and a beta of 2.14.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.06. Align Technology had a net margin of 18.10% and a return on equity of 30.58%. The business had revenue of $549.00 million during the quarter, compared to analysts’ expectations of $532.16 million. During the same period last year, the company posted $1.17 EPS. The business’s revenue was up 25.7% on a year-over-year basis. On average, equities research analysts forecast that Align Technology, Inc. will post 5.33 earnings per share for the current year.

Several large investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in shares of Align Technology by 4.4% in the 1st quarter. BlackRock Inc. now owns 7,239,770 shares of the medical equipment provider’s stock worth $2,058,482,000 after buying an additional 304,685 shares in the last quarter. Viking Global Investors LP grew its stake in shares of Align Technology by 220.1% in the 1st quarter. Viking Global Investors LP now owns 1,795,990 shares of the medical equipment provider’s stock worth $510,654,000 after buying an additional 1,234,890 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Align Technology by 22.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,334,677 shares of the medical equipment provider’s stock worth $279,521,000 after buying an additional 244,095 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Align Technology by 11.6% in the 1st quarter. Geode Capital Management LLC now owns 1,180,339 shares of the medical equipment provider’s stock worth $335,093,000 after buying an additional 122,947 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Align Technology by 68.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,173,060 shares of the medical equipment provider’s stock worth $333,537,000 after purchasing an additional 478,597 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $333.00 target price for the company in a research note on Friday, April 26th. Piper Jaffray Companies raised their target price on shares of Align Technology from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. BidaskClub cut shares of Align Technology from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. UBS Group set a $325.00 target price on shares of Align Technology and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, Guggenheim assumed coverage on shares of Align Technology in a research note on Wednesday, April 17th. They set a “buy” rating and a $335.00 target price for the company. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Align Technology currently has an average rating of “Buy” and an average price target of $340.07.

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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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