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

Align Technology, Inc. (NASDAQ:ALGN) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 2,940,000 shares, an increase of 7.7% from the August 31st total of 2,730,000 shares. Based on an average trading volume of 787,500 shares, the short-interest ratio is currently 3.7 days. Approximately 4.2% of the company’s shares are short sold.

Insider Buying and Selling at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the acquisition, the director now owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Align Technology

Several large investors have recently modified their holdings of ALGN. Achmea Investment Management B.V. increased its position in shares of Align Technology by 3.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider’s stock worth $2,495,000 after purchasing an additional 339 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Align Technology by 122.9% during the 1st quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock worth $1,445,000 after buying an additional 2,430 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Align Technology during the 4th quarter worth $1,197,000. Norden Group LLC grew its holdings in shares of Align Technology by 3,647.7% during the first quarter. Norden Group LLC now owns 36,540 shares of the medical equipment provider’s stock worth $11,982,000 after purchasing an additional 35,565 shares during the last quarter. Finally, Bares Capital Management Inc. raised its holdings in Align Technology by 22.6% in the 4th quarter. Bares Capital Management Inc. now owns 567,710 shares of the medical equipment provider’s stock valued at $155,553,000 after buying an additional 104,799 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ALGN. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Piper Sandler restated an “overweight” rating and issued a $315.00 target price on shares of Align Technology in a report on Friday, September 13th. Stifel Nicolaus reduced their target price on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Morgan Stanley cut their price objective on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, Robert W. Baird cut their price target on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $306.88.

Align Technology Trading Down 0.2 %

ALGN opened at $254.32 on Tuesday. The stock has a market cap of $19.15 billion, a PE ratio of 41.90, a P/E/G ratio of 5.77 and a beta of 1.64. Align Technology has a 1 year low of $176.34 and a 1 year high of $335.40. The stock’s 50 day simple moving average is $232.77 and its 200-day simple moving average is $261.68.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. Equities analysts forecast that Align Technology will post 7.61 earnings per share for the current fiscal year.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.