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.
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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.
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