Align Technology (ALGN) Lowered to “Sell” at BidaskClub

Align Technology (NASDAQ:ALGN) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Other equities analysts have also recently issued reports about the stock. Barclays reiterated a “buy” rating on shares of Align Technology in a research note on Thursday, July 26th. ValuEngine cut shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday. Stifel Nicolaus boosted their price target on shares of Align Technology from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, July 13th. Robert W. Baird cut their price target on shares of Align Technology from $425.00 to $330.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Zacks Investment Research lowered shares of Align Technology from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $354.08.

ALGN opened at $230.13 on Friday. Align Technology has a 1 year low of $203.12 and a 1 year high of $398.88. The firm has a market capitalization of $25.24 billion, a P/E ratio of 59.16, a PEG ratio of 2.10 and a beta of 1.52.



Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.05. Align Technology had a net margin of 17.00% and a return on equity of 32.61%. The firm had revenue of $505.30 million during the quarter, compared to analysts’ expectations of $503.14 million. During the same period in the previous year, the business posted $1.01 EPS. The business’s revenue was up 31.1% compared to the same quarter last year. Research analysts anticipate that Align Technology will post 4.98 earnings per share for the current year.

In related news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $382.00, for a total value of $3,820,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Raphael Pascaud sold 10,500 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $361.00, for a total transaction of $3,790,500.00. Following the completion of the sale, the chief marketing officer now directly owns 25,087 shares of the company’s stock, valued at approximately $9,056,407. The disclosure for this sale can be found here. In the last three months, insiders sold 55,648 shares of company stock valued at $20,577,327. 1.40% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in ALGN. FMR LLC grew its holdings in shares of Align Technology by 251.6% during the second quarter. FMR LLC now owns 1,705,510 shares of the medical equipment provider’s stock worth $583,523,000 after buying an additional 1,220,448 shares in the last quarter. Winslow Capital Management LLC purchased a new stake in shares of Align Technology during the second quarter worth $148,376,000. BlackRock Inc. grew its holdings in shares of Align Technology by 1.7% during the second quarter. BlackRock Inc. now owns 5,150,916 shares of the medical equipment provider’s stock worth $1,762,334,000 after buying an additional 84,512 shares in the last quarter. First Republic Investment Management Inc. grew its holdings in shares of Align Technology by 66.0% during the second quarter. First Republic Investment Management Inc. now owns 201,947 shares of the medical equipment provider’s stock worth $69,094,000 after buying an additional 80,293 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Align Technology by 702.4% during the second quarter. Sei Investments Co. now owns 91,371 shares of the medical equipment provider’s stock worth $31,262,000 after buying an additional 79,984 shares in the last quarter. 78.54% of the stock is owned by institutional investors and hedge funds.

About Align Technology

Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.

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