Align Technology, Inc. (NASDAQ: ALGN ) short interest rose 30.6% in June

Align Technology, Inc. (NASDAQ: ALGN – Get Rating ) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 2,260,000 shares, an increase of 30.6% from the May 31st total of 1,730,000 shares. Currently, 3.1% of the company’s shares are sold short. Based on an average daily trading volume of 1,100,000 shares, the days-to-cover ratio is currently 2.1 days.

In related news, Director C Raymond Larkin, Jr. purchased 1,000 shares of the stock in a transaction that occurred on Friday, May 13th. The shares were purchased at an average price of $264.42 per share, for a total value of $264,420.00. Following the completion of the acquisition, the director now directly owns 18,190 shares in the company, valued at approximately $4,809,799.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joseph M. Hogan acquired 6,700 shares of the stock in a transaction on Wednesday, May 4th. The shares were acquired at an average price of $298.48 per share, for a total transaction of $1,999,816.00. Following the acquisition, the chief executive officer now directly owns 174,801 shares in the company, valued at approximately $52,174,602.48. Disclosure of this purchase can be found here. Company insiders own 0.64% of the company’s shares.

(Ad)

What is the highest yielding stock you have ever owned? Dividends on these stocks have risen so quickly over the years that they now give us an average of 26%!

When you start getting 26% of your money, your financial problems tend to almost evaporate.

A number of hedge funds have recently added to or reduced their stakes in ALGN. Harbor Investment Advisory LLC boosted its stake in shares of Align Technology by 200.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 39 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 26 shares during the period. Mizuho Securities Co. Ltd. purchased a new stake in Align Technology in the 4th quarter valued at $39,000. Trust Co. of Vermont acquired a new position in Align Technology during the 4th quarter valued at $49,000. Tsfg LLC boosted its holdings in Align Technology by 200.0% in the 1st quarter. Tsfg LLC now owns 75 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 50 shares during the last quarter. Finally, CVA Family Office LLC acquired a new stake in shares of Align Technology in the 4th quarter valued at about $56,000. 88.17% of the stock is owned by hedge funds and other institutional investors.

ALGN has been the subject of a number of analyst reports. Robert W. Baird decreased their price objective on Align Technology from $625.00 to $510.00 and set an “outperform” rating on the stock in a report on Thursday, April 28th. Morgan Stanley decreased their price objective on Align Technology from $524.00 to $479.00 and set an “overweight” rating on the stock in a report on Wednesday, June 15th. Credit Suisse Group reduced their target price on shares of Align Technology from $722.00 to $418.00 in a research report on Wednesday, May 4th. Stifel Nicolaus cut their target price on shares of Align Technology from $575.00 to $425.00 in a research report on Thursday, April 28th. Finally, Piper Sandler cut their target price on shares of Align Technology from $600.00 to $440.00 in a research report on Thursday, April 28th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Align Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $586.20, based on data from MarketBeat.com.

Shares of Align Technology stock opened at $247.34 on Friday. Align Technology has a 1 year low of $225.86 and a 1 year high of $737.45. The company has a market cap of $19.49 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.80 and a beta of 1.77. The business has a 50-day moving average of $271.71 and a 200-day moving average of $416.35.

Align Technology (NASDAQ:ALGN – Get Rating ) last posted its quarterly earnings data on Wednesday, April 27th. The medical equipment provider reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.29). Align Technology had a return on equity of 19.90% and a net margin of 17.51%. The company had revenue of $973.22 million for the quarter, compared to analysts’ estimates of $1 billion. In the same quarter last year, the firm earned $2.51 earnings per share. As a group, equities research analysts expect that Align Technology will post 9 earnings per share for the current fiscal year.

Align Technology Company Profile (Get Rating)

Align Technology, Inc, a medical device company, designs, manufactures and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general dentists, as well as restorative and cosmetic dentistry. It operates in two segments, Clear Aligner; and scanners and services.

Read more

This instant news alert is generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1000 in Align Technology right now?

Before you consider Align Technology, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients daily. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market takes a nosedive … and Align Technology wasn’t on the list.

Although Align Technology currently has a “Buy” rating among analysts, the top-rated analysts think these five stocks are better buys.

See the 5 stocks here

Leave a Comment

Your email address will not be published.