Media headlines about Align Technology (NASDAQ:ALGN) have been trending somewhat positive on Thursday, according to Accern Sentiment. Accern rates the sentiment of press coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Align Technology earned a coverage optimism score of 0.08 on Accern’s scale. Accern also assigned media coverage about the medical equipment provider an impact score of 45.5334553501374 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Brokerages Expect Align Technology, Inc. (ALGN) Will Announce Quarterly Sales of $500.43 Million (americanbankingnews.com)
- Align Technology, Inc. (ALGN) Receives Consensus Recommendation of “Buy” from Analysts (americanbankingnews.com)
- $1.18 Earnings Per Share Expected for Align Technology, Inc. (ALGN) This Quarter (americanbankingnews.com)
- Align Technology, Inc. (NASDAQ:ALGN): Wall Street Estimates in Focus (vassarnews.com)
- Align Technology, Inc. (NasdaqGS:ALGN) Sees Its PCF Ratio Hit 62.217667 (baycityobserver.com)
Several research firms recently weighed in on ALGN. BidaskClub raised Align Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 28th. Stifel Nicolaus raised their price objective on Align Technology from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Barclays reaffirmed a “buy” rating on shares of Align Technology in a research note on Thursday, July 26th. Robert W. Baird raised their price objective on Align Technology from $351.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Finally, Piper Jaffray Companies lifted their price target on Align Technology to $425.00 and gave the company an “overweight” rating in a research note on Friday, July 20th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. Align Technology presently has a consensus rating of “Buy” and a consensus target price of $353.79.
Shares of ALGN stock opened at $372.91 on Thursday. Align Technology has a 12 month low of $174.44 and a 12 month high of $392.69. The stock has a market cap of $31.04 billion, a PE ratio of 95.86, a PEG ratio of 2.58 and a beta of 1.53.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, July 25th. The medical equipment provider reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.21. Align Technology had a return on equity of 32.61% and a net margin of 17.00%. The firm had revenue of $490.26 million for the quarter, compared to analyst estimates of $472.10 million. During the same period last year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was up 37.5% on a year-over-year basis. sell-side analysts anticipate that Align Technology will post 4.97 EPS for the current fiscal year.
In related news, SVP Simon Beard sold 3,895 shares of Align Technology stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $384.48, for a total value of $1,497,549.60. Following the transaction, the senior vice president now directly owns 3,577 shares of the company’s stock, valued at $1,375,284.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $382.00, for a total value of $3,820,000.00. The disclosure for this sale can be found here. Insiders have sold 55,648 shares of company stock worth $20,577,327 over the last three months. Insiders own 1.40% of the company’s stock.
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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