Align Technology, Inc. (NASDAQ:ALGN) Director Greg J. Santora sold 7,700 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total value of $1,839,915.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.19. The business had revenue of $385.30 million for the quarter, compared to analyst estimates of $359.80 million. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The company’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 EPS.
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Several analysts have weighed in on the company. Zacks Investment Research upgraded Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price target on the stock in a research note on Monday. Stifel Nicolaus boosted their price target on Align Technology from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Credit Suisse Group boosted their price target on Align Technology from $175.00 to $209.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Robert W. Baird reiterated a “buy” rating and set a $245.00 price target on shares of Align Technology in a research note on Friday, October 27th. Finally, Goldman Sachs Group, Inc. (The) boosted their price target on Align Technology from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 15th. Eleven research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of $214.45.
Large investors have recently made changes to their positions in the company. Schroder Investment Management Group purchased a new stake in shares of Align Technology during the 2nd quarter worth approximately $104,000. CENTRAL TRUST Co boosted its stake in shares of Align Technology by 128.5% during the 2nd quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock worth $105,000 after acquiring an additional 392 shares in the last quarter. Whittier Trust Co. purchased a new stake in shares of Align Technology during the 3rd quarter worth approximately $107,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Align Technology by 13.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock worth $137,000 after acquiring an additional 105 shares in the last quarter. Finally, BlueMountain Capital Management LLC purchased a new stake in shares of Align Technology during the 2nd quarter worth approximately $148,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.
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.
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