The stock of Align Technology, Inc. (NASDAQ:ALGN) reached all time high today, Nov, 18 and still has $161.75 target or 69.00% above today’s $95.71 share price. This indicates more upside for the $7.89 billion company. This technical setup was reported by Barchart.com. If the $161.75 PT is reached, the company will be worth $5.44B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 151,301 shares traded hands. Align Technology, Inc. (NASDAQ:ALGN) has risen 32.07% since April 18, 2016 and is uptrending. It has outperformed by 27.64% the S&P500.
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 stock of Align Technology, Inc. (NASDAQ:ALGN) earned “Buy” rating by Stifel Nicolaus on Friday, October 23. Piper Jaffray initiated the shares of ALGN in a report on Wednesday, November 18 with “Overweight” rating. As per Friday, September 11, the company rating was initiated by Leerink Swann. Roth Capital maintained Align Technology, Inc. (NASDAQ:ALGN) rating on Wednesday, March 23. Roth Capital has “Buy” rating and $80 price target. The firm has “Outperform” rating by Credit Suisse given on Wednesday, May 11. The firm has “Neutral” rating given on Monday, October 3 by Robert W. Baird. As per Friday, January 29, the company rating was maintained 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 1.41 in Q2 2016. Its up 0.16, from 1.25 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.
Guggenheim Cap Ltd Limited Liability Company accumulated 111,476 shares or 0.03% of the stock. Menta Capital Limited Liability Corp holds 0.09% or 8,400 shares in its portfolio. Df Dent & Com Inc holds 0.05% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN) for 20,464 shares. Arizona State Retirement Sys holds 32,460 shares or 0.04% of its portfolio. Moreover, Quantitative Invest Mngmt Ltd Limited Liability Company has 0.08% invested in Align Technology, Inc. (NASDAQ:ALGN) for 22,100 shares. Moreover, Meiji Yasuda Asset Mgmt Com Limited has 0.03% invested in Align Technology, Inc. (NASDAQ:ALGN) for 2,640 shares. Sg Americas Securities Limited Company has 22,907 shares for 0.01% of their US portfolio. Panagora Asset accumulated 11,796 shares or 0% of the stock. Columbus Circle Invsts has 1.13 million shares for 0.92% of their US portfolio. Blackrock Institutional Tru Na holds 0.03% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN) for 2.22 million shares. Insight Cap Research Management last reported 1.71% of its portfolio in the stock. Fmr Ltd Liability Company holds 0.01% or 1.35M shares in its portfolio. Friedberg Investment reported 42,240 shares or 1.61% of all its holdings. State Street Corp holds 2.05 million shares or 0.02% of its portfolio. Swiss National Bank & Trust owns 120,264 shares or 0.02% of their US portfolio.
Insider Transactions: Since May 23, 2016, the stock had 0 insider buys, and 7 sales for $15.69 million net activity. MORROW GEORGE J also sold $3.89 million worth of Align Technology, Inc. (NASDAQ:ALGN) on Monday, May 23. The insider Tay Julie sold 3,000 shares worth $277,800. The insider SANTORA GREG J sold $979,130. LACOB JOSEPH sold $5.72 million worth of Align Technology, Inc. (NASDAQ:ALGN) on Friday, November 11. $74,545 worth of shares were sold by Olson Jennifer on Monday, August 29. Relic Zelko sold $1.30M worth of stock.
More news for Align Technology, Inc. (NASDAQ:ALGN) were recently published by: Fool.com, which released: “Align Technology Inc. Beats Q3 Expectations With Record Invisalign Volume” on November 07, 2016. Forbes.com‘s article titled: “Relative Strength Alert For Align Technology” and published on October 26, 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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