Align Technology, Inc. (NASDAQ:ALGN) Short Interest Update

Align Technology, Inc. (NASDAQ:ALGN) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 3,670,700 shares, a growth of 23.9% from the May 30th total of 2,961,700 shares. Approximately 5.1% of the company’s shares are short sold. Based on an average daily volume of 1,030,000 shares, the short-interest ratio is presently 3.6 days.

ALGN stock opened at $283.91 on Friday. Align Technology has a twelve month low of $177.93 and a twelve month high of $398.88. The company has a market cap of $22.71 billion, a price-to-earnings ratio of 57.71, a PEG ratio of 2.24 and a beta of 1.97. The company’s 50 day moving average is $290.90.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.06. Align Technology had a return on equity of 30.58% and a net margin of 18.10%. The company had revenue of $549.00 million during the quarter, compared to analyst estimates of $532.16 million. During the same quarter last year, the company earned $1.17 EPS. The firm’s revenue for the quarter was up 25.7% on a year-over-year basis. Research analysts predict that Align Technology will post 5.4 EPS for the current year.



Several research analysts have recently issued reports on ALGN shares. Guggenheim started coverage on Patterson Companies in a research report on Wednesday, April 17th. They issued a “neutral” rating and a $23.00 target price for the company. Zacks Investment Research lowered HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Wolfe Research started coverage on Waters in a research report on Thursday, May 30th. They issued an “underperform” rating for the company. Piper Jaffray Companies reissued an “overweight” rating and issued a $760.00 target price (up previously from $755.00) on shares of Chipotle Mexican Grill in a research report on Thursday, April 25th. Finally, Barclays increased their target price on T. Rowe Price Group from $90.00 to $95.00 and gave the stock an “underweight” rating in a research report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $323.73.

In other news, CFO John Morici sold 2,374 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $286.91, for a total value of $681,124.34. Following the completion of the transaction, the chief financial officer now owns 2,913 shares of the company’s stock, valued at approximately $835,768.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Raphael Pascaud sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $326.18, for a total value of $4,892,700.00. Following the completion of the transaction, the chief marketing officer now directly owns 34,092 shares of the company’s stock, valued at approximately $11,120,128.56. The disclosure for this sale can be found here. Insiders have sold a total of 55,283 shares of company stock valued at $17,483,871 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Horan Capital Advisors LLC. bought a new position in Align Technology during the 1st quarter valued at approximately $28,000. Harvest Group Wealth Management LLC purchased a new stake in Align Technology during the 1st quarter valued at $28,000. Larson Financial Group LLC boosted its stake in Align Technology by 588.2% during the 1st quarter. Larson Financial Group LLC now owns 117 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Captrust Financial Advisors boosted its stake in Align Technology by 67.6% during the 4th quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its stake in Align Technology by 110.0% during the 1st quarter. Lindbrook Capital LLC now owns 126 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 66 shares during the last quarter. 82.62% of the stock is owned by 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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