Investors Buy Shares of Align Technology, Inc. (ALGN) on Weakness

Investors bought shares of Align Technology, Inc. (NASDAQ:ALGN) on weakness during trading on Friday. $209.00 million flowed into the stock on the tick-up and $40.45 million flowed out of the stock on the tick-down, for a money net flow of $168.55 million into the stock. Of all stocks tracked, Align Technology had the 21st highest net in-flow for the day. Align Technology traded down ($0.36) for the day and closed at $184.50

Several research firms recently commented on ALGN. Robert W. Baird restated a “buy” rating on shares of Align Technology in a research note on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) increased their price objective on shares of Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday. Piper Jaffray Companies reiterated a “buy” rating and set a $200.00 price objective on shares of Align Technology in a research note on Monday, September 11th. Leerink Swann reiterated an “outperform” rating and set a $199.00 price objective (up from $194.00) on shares of Align Technology in a research note on Friday, July 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $205.00 price objective (up from $200.00) on shares of Align Technology in a research note on Monday, August 7th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $179.82.

The stock has a market cap of $14.79 billion, a PE ratio of 63.18 and a beta of 1.55. The stock has a 50 day moving average price of $175.22 and a 200 day moving average price of $143.46.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.12. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The company had revenue of $356.50 million during the quarter, compared to analyst estimates of $343.43 million. During the same quarter in the previous year, the firm earned $0.62 earnings per share. Align Technology’s revenue was up 32.3% on a year-over-year basis. Analysts predict that Align Technology, Inc. will post $3.40 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Navellier & Associates Inc grew its holdings in shares of Align Technology by 4.5% during the second quarter. Navellier & Associates Inc now owns 68,761 shares of the medical equipment provider’s stock worth $10,322,000 after purchasing an additional 2,963 shares in the last quarter. Sentry Investment Management LLC purchased a new position in shares of Align Technology during the second quarter worth about $882,000. Ashford Capital Management Inc. grew its holdings in shares of Align Technology by 46.9% during the second quarter. Ashford Capital Management Inc. now owns 6,941 shares of the medical equipment provider’s stock worth $1,042,000 after purchasing an additional 2,216 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Align Technology by 3,163.1% during the second quarter. Toronto Dominion Bank now owns 25,583 shares of the medical equipment provider’s stock worth $3,840,000 after purchasing an additional 24,799 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of Align Technology during the second quarter worth about $470,000. 81.72% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This report was originally reported by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://www.truebluetribune.com/2017/09/17/investors-buy-shares-of-align-technology-inc-algn-on-weakness.html.

Align Technology Company Profile

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.

Receive News & Ratings for Align Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply