Align Technology (NASDAQ:ALGN) EVP John Morici Sells 7,969 Shares

Align Technology, Inc. (NASDAQ:ALGN) EVP John Morici sold 7,969 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the completion of the transaction, the executive vice president owned 8,237 shares in the company, valued at approximately $1,559,346.47. The trade was a 49.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Align Technology Price Performance

Shares of ALGN opened at $190.02 on Friday. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30. The company has a 50-day moving average of $169.74 and a 200 day moving average of $149.29. The firm has a market capitalization of $13.63 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.08 and a beta of 1.84.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.30. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 EPS. On average, equities analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ALGN shares. Jefferies Financial Group lifted their target price on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Morgan Stanley raised their price target on Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Leerink Partners lifted their price objective on Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Evercore upped their price objective on shares of Align Technology from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings upgraded shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 16th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $195.58.

Hedge Funds Weigh In On Align Technology

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sentry Investment Management LLC lifted its holdings in shares of Align Technology by 73.1% during the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Sunbelt Securities Inc. increased its position in Align Technology by 222.4% during the 4th quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 109 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in Align Technology during the 3rd quarter valued at about $26,000. Rothschild Investment LLC raised its stake in Align Technology by 140.3% in the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 87 shares during the last quarter. Finally, True Wealth Design LLC boosted its holdings in Align Technology by 7,650.0% in the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 153 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

About Align Technology

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.