Shares last traded at $152.51 just a bit higher than the 50 day moving average which is $144.79 and a tad higher than the 200 day moving average of $116.22. The 50 day moving average moved up $7.72 and the 200 day average went up $36.29 or +31.23%. Trading was light with 680K shares changing hands by the end of trading on Thursday. Trading volume was down 31.26% under the stocks average daily volume.
Investors are more bearish on Align Technology, Inc. of late if you pay attention to the motion in short interest. The stock recorded a rise in short interest between June 15, 2017 and May 31, 2017 of 0.42%. Short interest increased 10,105 over that timeframe. The days to cover decreased to 2.3 and the percentage of shorted shares was 0.03% on May 31.
There has been some selling insider activity on Align Technology, Inc. (NASDAQ:ALGN) recently. Director Joseph Lacob let go of 50,000 shares at a price of $144.49 on May 31st. The Director now owns $47,102,006 of the stock per an SEC filing yesterday. Sreelakshmi Kolli, VP, Info Technology disclosed the sale of 1,000 shares. The shares were sold on May 30th for an average price of $144.00. The VP, Info Technology now owns $201,600 of the stock according to the SEC filing.
Raphael Pascaud, CMO and Bus. Dev. sold $481,705 worth of shares at an average price of $137.63 on Thu the 18th. Pascaud now owns $2,316,038 of stock as reported to the SEC.
Here are a few other firms who have also updated their positions. As of the end of the quarter Piedmont Investment Advisors LLC had acquired 6,318 shares growing its position 131.2%. The value of the investment in (ALGN) increased from $463,000 to $1,277,000 increasing 175.8% since the last quarter. As of quarter end Proficio Capital Partners LLC had bought a total of 149 shares growing its holdings by 10.3%. The value in dollars went from $138,000 to $220,000 a change of $82,000 quarter over quarter.
As of quarter end Morgan Stanley had disposed of 1,977 shares trimming its stake by 14.8%. The value of the investment in ALGN went from $1,288,000 to $1,310,000 a change of 1.7% for the reporting period. Tower Research Capital LLC (trc) reduced its investment by shedding 133 shares a decrease of 88.7% as of 03/31/2017. Tower Research Capital LLC (trc) controls 17 shares worth $2,000. The value of the position overall is down by 85.7%.
On November 28 Stifel Nicolaus kept the stock rating at “Buy” and moved up the price target from $95.00 to $110.00. On October 3 the company was downgraded to “Neutral” from “Outperform” in an announcement from Baird.
July 28 investment analysts at Stifel Nicolaus left the company rating at “Buy” but raised the price expectation to $95.00 from $75.00. March 23 investment analysts at Roth Capital maintained a company rating of “Buy” but raised the price target from $72.00 to $80.00.
Piper Jaffray added the stock to its research portfolio with a rating of “Overweight” and setting a price target of $74.00. On October 23 Jefferies made no change to the stock rating of “Buy” but moved up the price target to $72.00 from $70.00.
The company is up from yesterday’s close of $151.59. The company’s P/E ratio is 56.91 and the market cap of the company is 12.25B. As of the last earnings report the EPS was $2.68 and is expected to be $3.26 for the current year with 80,331,000 shares presently outstanding. Next quarter’s EPS is forecasted at $0.79 with next year’s EPS anticipated to be $3.91.
Align Technology, Inc., launched on April 3, 1997, 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. The Clear Aligner segment consists of its Invisalign System, which includes Invisalign Full, Teen and Assist (Comprehensive Products), Express/Lite (Non-Comprehensive Products) and Vivera Retainers, along with its training and ancillary products for treating malocclusion (Non-Case). The Scanner segment consists of intra-oral scanning systems and other services available with the intra-oral scanners that provide digital alternatives to the traditional cast models. The Scanner segment includes its iTero scanner and OrthoCAD services. iTero scanner is used by dental professionals, and labs and services for restorative and orthodontic digital procedures, as well as Invisalign digital impression submission..