Price Action Alert: Does Align Technology, Inc. Have Any Gas After Today’s Big Increase?

Price Action Alert: Does Align Technology, Inc. Have Any Gas After Today's Big Increase?

The stock of Align Technology, Inc. (NASDAQ:ALGN) is a huge mover today! About 437,305 shares traded hands. Align Technology, Inc. (NASDAQ:ALGN) has risen 32.94% since March 1, 2016 and is uptrending. It has outperformed by 23.69% the S&P500.
The move comes after 9 months positive chart setup for the $6.87B company. It was reported on Oct, 4 by Barchart.com. We have $127.57 PT which if reached, will make NASDAQ:ALGN worth $2.95B more.

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 $40.04 million for 42.89 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), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. Align Technology has been the topic of 14 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Friday, September 11 by Leerink Swann. The stock of Align Technology, Inc. (NASDAQ:ALGN) has “Buy” rating given on Friday, January 29 by Stifel Nicolaus. As per Wednesday, March 23, the company rating was maintained by Roth Capital. As per Wednesday, May 11, the company rating was initiated by Credit Suisse. Robert W. Baird downgraded the stock to “Neutral” rating in Monday, October 3 report. The rating was initiated by Piper Jaffray with “Overweight” on Wednesday, November 18. The firm earned “Buy” rating on Friday, October 23 by Stifel Nicolaus.

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 improved, 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.
Asset Management, a Colorado-based fund reported 25,161 shares. Bbva Compass Bancshares Incorporated holds 0.04% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN) for 6,276 shares. Piedmont Inv Advsr Ltd holds 0% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN) for 17 shares. Tiaa Cref Invest Lc, a New York-based fund reported 402,832 shares. Jpmorgan Chase has 95,670 shares for 0% of their US portfolio. Amalgamated Bancorp, a New York-based fund reported 12,617 shares. Goodman Financial holds 3.84% or 79,829 shares in its portfolio. Brown Advisory accumulated 0% or 7,911 shares. California State Teachers Retirement Sys last reported 152,709 shares in the company. Advantus Cap accumulated 0.02% or 8,837 shares. The Massachusetts-based Numeric Invsts Lc has invested 0% in Align Technology, Inc. (NASDAQ:ALGN). Epoch Investment Partners accumulated 8,608 shares or 0% of the stock. The Massachusetts-based Acadian Asset Ltd Com has invested 0.02% in Align Technology, Inc. (NASDAQ:ALGN). Nationwide Fund holds 0.14% or 397,435 shares in its portfolio. Kistler accumulated 75 shares or 0% of the stock.

Insider Transactions: Since May 3, 2016, the stock had 0 insider purchases, and 11 sales for $14.56 million net activity. Tay Julie sold $277,800 worth of Align Technology, Inc. (NASDAQ:ALGN) on Tuesday, August 9. $1.12M worth of Align Technology, Inc. (NASDAQ:ALGN) shares were sold by LARKIN C RAYMOND JR. Olson Jennifer had sold 799 shares worth $74,545 on Monday, August 29. Another trade for 13,577 shares valued at $1.30M was sold by Relic Zelko. Thaler Warren S also sold $573,551 worth of Align Technology, Inc. (NASDAQ:ALGN) shares. Shares for $3.89M were sold by MORROW GEORGE J. Another trade for 3,000 shares valued at $231,000 was sold by Pascaud Raphael.

Another recent and important Align Technology, Inc. (NASDAQ:ALGN) news was published by Fool.com which published an article titled: “International Sales Help Align Technology, Inc. in Q2” on July 29, 2016.

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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