Posted by Defense World Staff on Jun 2nd, 2024 
Align Technology, Inc. (NASDAQ:ALGN – Get Free Report) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totalling 1,500,000 shares, an increase of 16.3% from the April 30th total of 1,290,000 shares. Based on an average trading volume of 599,300 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.1% of the company’s stock are short sold.
ALGN has been the topic of several analyst reports. SVB Leerink began coverage on shares of Align Technology in a report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target on the stock. Morgan Stanley boosted their target price on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Stifel Nicolaus increased their price target on Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Finally, Robert W. Baird upped their price objective on shares of Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $353.00.
View Our Latest Report on ALGN
Align Technology stock opened at $257.21 on Friday. The stock has a 50-day moving average price of $293.40 and a 200 day moving average price of $278.93. The company has a market capitalization of $19.36 billion, a price-to-earnings ratio of 42.37, a price-to-earnings-growth ratio of 4.71 and a beta of 1.66. Align Technology has a 52 week low of $176.34 and a 52 week high of $413.20.
Align Technology (NASDAQ:ALGN – Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.54 by $0.08. The business had revenue of $997.43 million during the quarter, compared to analysts’ expectations of $971.97 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. Research analysts anticipate that Align Technology will post 7.92 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. acquired a new stake in Align Technology during the third quarter worth about $122,000. Victory Capital Management Inc. increased its holdings in shares of Align Technology by 11.6% during the 3rd quarter. Victory Capital Management Inc. now owns 79,453 shares of the medical equipment provider’s stock valued at $24,259,000 after purchasing an additional 8,242 shares in the last quarter. Sigma Planning Corp acquired a new position in shares of Align Technology in the 3rd quarter valued at $453,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Align Technology by 11.8% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 70,326 shares of the medical equipment provider’s stock worth $21,472,000 after buying an additional 7,414 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Align Technology during the third quarter valued at $2,565,000. 88.43% of the stock is owned by institutional investors and hedge funds.
(Get Free Report)
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.
Receive News & Ratings for Align Technology Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Align Technology and related companies with MarketBeat.com’s FREE daily email newsletter.
Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Up 11.5% in May
MercadoLibre, Inc. (NASDAQ:MELI) Receives Average Recommendation of “Moderate Buy” from Analysts
