Align Technology (NASDAQ:ALGN) was downgraded by ValuEngine from a "hold" rating to a "sell" rating in a research note issued to investors on Tuesday, ValuEngine reports.
Other analysts also recently issued research reports about the company. TheStreet raised Align Technology from a "c+" rating to a "b-" rating in a research note on Wednesday, June 24th. Stifel Nicolaus boosted their price objective on Align Technology from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, June 12th. SVB Leerink reissued an "outperform" rating on shares of Align Technology in a research note on Thursday, April 30th. Stephens dropped their price objective on Align Technology from $220.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 19th. They noted that the move was a valuation call. Finally, Credit Suisse Group dropped their price objective on Align Technology from $320.00 to $275.00 and set an "outperform" rating on the stock in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of "Buy" and a consensus price target of $255.42.
Align Technology stock traded up $7.96 during mid-day trading on Tuesday, hitting $274.44. 856,763 shares of the company's stock traded hands, compared to its average volume of 1,135,769. The firm has a 50 day moving average price of $249.84 and a 200 day moving average price of $237.33. The company has a quick ratio of 1.60, a current ratio of 1.73 and a debt-to-equity ratio of 0.02. The company has a market cap of $20.73 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 16.54 and a beta of 1.99. Align Technology has a one year low of $127.88 and a one year high of $301.65.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, April 29th. The medical equipment provider reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.27). The business had revenue of $551.00 million for the quarter, compared to the consensus estimate of $557.54 million. Align Technology had a net margin of 78.42% and a return on equity of 107.18%. The firm's revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS. On average, analysts expect that Align Technology will post 1.48 earnings per share for the current fiscal year.
In other news, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $251.15, for a total transaction of $2,511,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Vamsi Mohan Raj Pudipeddi sold 2,346 shares of Align Technology stock in a transaction on Monday, May 18th. The shares were sold at an average price of $230.09, for a total value of $539,791.14. Following the transaction, the chief marketing officer now owns 1,246 shares in the company, valued at approximately $286,692.14. The disclosure for this sale can be found here. Insiders have sold 25,716 shares of company stock worth $6,241,054 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PSI Advisors LLC acquired a new stake in Align Technology during the fourth quarter valued at $25,000. Ameritas Investment Company LLC acquired a new stake in Align Technology during the first quarter valued at $26,000. Orion Portfolio Solutions LLC acquired a new stake in Align Technology during the fourth quarter valued at $27,000. Americana Partners LLC acquired a new stake in Align Technology during the fourth quarter valued at $46,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Align Technology during the fourth quarter valued at $61,000. 85.97% of the stock is owned by hedge funds and other institutional investors.
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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