Market Runner: What’s Align Technology, Inc. Downside After Today’s Huge Decline?

Market Runner: What's Align Technology, Inc. Downside After Today's Huge Decline?

The stock of Align Technology, Inc. (NASDAQ:ALGN) is a huge mover today! The stock decreased 3.78% or $3.54 during the last trading session, hitting $90.21. About 1.61 million shares traded hands or 121.75% up from the average. Align Technology, Inc. (NASDAQ:ALGN) has risen 32.94% since March 1, 2016 and is uptrending. It has outperformed by 20.72% the S&P500.
The move comes after 8 months negative chart setup for the $7.33B company. It was reported on Oct, 4 by Barchart.com. We have $82.09 PT which if reached, will make NASDAQ:ALGN worth $659.70 million less.

Analysts await Align Technology, Inc. (NASDAQ:ALGN) to report earnings on October, 27. They expect $0.52 EPS, up 52.94% or $0.18 from last year’s $0.34 per share. ALGN’s profit will be $42.25 million for 43.37 P/E if the $0.52 EPS becomes a reality. After $0.62 actual EPS reported by Align Technology, Inc. for the previous quarter, Wall Street now forecasts -16.13% negative EPS growth.

Align Technology, Inc. (NASDAQ:ALGN) Ratings Coverage

Out of 8 analysts covering Align Technology (NASDAQ:ALGN), 8 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Align Technology has been the topic of 13 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Credit Suisse initiated Align Technology, Inc. (NASDAQ:ALGN) on Wednesday, May 11 with “Outperform” rating. Leerink Swann initiated Align Technology, Inc. (NASDAQ:ALGN) on Friday, September 11 with “Outperform” rating. The company was maintained on Wednesday, March 23 by Roth Capital. The firm has “Buy” rating by Stifel Nicolaus given on Friday, January 29. Piper Jaffray initiated the stock with “Overweight” rating in Wednesday, November 18 report. Stifel Nicolaus maintained the shares of ALGN in a report on Friday, October 23 with “Buy” rating.

According to Zacks Investment Research, “Align Technology Inc. designs, manufactures and markets the Invisalign System, a proprietary method for treating malocclusion. The System corrects malocclusion using a series of clear, removable appliances that gently move teeth to a desired final position. Because it does not rely on the use of metal or ceramic brackets and wires, the System significantly reduces the aesthetic and other limitations associated with braces. The Invisalign System also offers orthodontists a new means of carrying out their diagnosis and treatment planning processes.”

Insitutional Activity: The institutional sentiment increased to 1.25 in Q2 2016. Its up 0.02, from 1.23 in 2016Q1. The ratio is positive, as 33 funds sold all Align Technology, Inc. shares owned while 99 reduced positions. 62 funds bought stakes while 103 increased positions. They now own 64.99 million shares or 4.19% less from 67.84 million shares in 2016Q1.
Retirement Of Alabama has 0.15% invested in the company for 318,825 shares. The Massachusetts-based Clough Prtnrs Limited Partnership has invested 0.02% in Align Technology, Inc. (NASDAQ:ALGN). Blackrock Grp Ltd has invested 0% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN). Ledyard National Bank last reported 0% of its portfolio in the stock. Raymond James & last reported 24,774 shares in the company. Of Vermont has 0% invested in the company for 101 shares. Babson Capital Limited Company last reported 3,600 shares in the company. Blackrock Inc owns 67,779 shares or 0.01% of their US portfolio. The Massachusetts-based Fmr Limited has invested 0.01% in Align Technology, Inc. (NASDAQ:ALGN). Blackrock Japan Communication Limited reported 3,708 shares or 0% of all its holdings. Paloma Mngmt Company, a Connecticut-based fund reported 37,728 shares. Columbus Circle Investors has 0.92% invested in the company for 1.13 million shares. Jpmorgan Chase And Com reported 95,670 shares or 0% of all its holdings. Ubs Asset Mngmt Americas last reported 69,212 shares in the company. Nordea Invest Mngmt Ab accumulated 0% or 6,285 shares.

Insider Transactions: Since May 3, 2016, the stock had 0 insider purchases, and 11 selling transactions for $14.56 million net activity. Tay Julie had sold 3,000 shares worth $277,800 on Tuesday, August 9. GEORGE ROGER E sold 27,311 shares worth $2.05M. Relic Zelko sold $1.30 million worth of Align Technology, Inc. (NASDAQ:ALGN) on Monday, August 15. Shares for $3.89M were sold by MORROW GEORGE J. On Thursday, May 5 LARKIN C RAYMOND JR sold $1.12M worth of the stock or 15,000 shares. $573,551 worth of shares were sold by Thaler Warren S on Tuesday, May 3. PRESCOTT THOMAS M also sold $4.83M worth of Align Technology, Inc. (NASDAQ:ALGN) on Tuesday, May 3.

More news for Align Technology, Inc. (NASDAQ:ALGN) were recently published by: Fool.com, which released: “International Sales Help Align Technology, Inc. in Q2” on July 29, 2016. Fool.com‘s article titled: “Align Technology Inc. Sees Clear Q1 Success With Invisalign Growth” and published on April 29, 2016 is yet another important article.

ALGN Company Profile

Align Technology, Inc., incorporated on April 3, 1997, designs, makes and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Firm operates through two divisions: Clear Aligner segment and Scanner and Services (Scanner) segment. The Clear Aligner segment consists of its Invisalign System, which includes Invisalign Full, Express/Lite, Teen, Assist and Vivera Retainers, along with its training and ancillary products for treating malocclusion. 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 Company’s iTero scanner is used by dental professionals, and labs and services for restorative and orthodontic digital procedures, as well as Invisalign digital impression submission.

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