In today’s session Align Technology, Inc. (ALGN) registered an unusually high (95) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious ALGN increase. With 95 contracts traded and 6184 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: ALGN161021C00090000 closed last at: $2.25 or 54.1% down. About 205,648 shares traded hands. Align Technology, Inc. (NASDAQ:ALGN) has risen 30.58% since March 2, 2016 and is uptrending. It has outperformed by 22.32% the S&P500.
Analysts await Align Technology, Inc. (NASDAQ:ALGN) to report earnings on October, 27. They expect $0.52 earnings per share, up 52.94% or $0.18 from last year’s $0.34 per share. ALGN’s profit will be $41.29 million for 43.35 P/E if the $0.52 EPS becomes a reality. After $0.62 actual earnings per share 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 Wednesday, May 11 by Credit Suisse. Roth Capital maintained it with “Buy” rating and $80 target price in Wednesday, March 23 report. Leerink Swann initiated the shares of ALGN in a report on Friday, September 11 with “Outperform” rating. The rating was maintained by Stifel Nicolaus with “Buy” on Friday, January 29. The rating was maintained by Stifel Nicolaus on Friday, October 23 with “Buy”. The firm earned “Overweight” rating on Wednesday, November 18 by Piper Jaffray. The stock of Align Technology, Inc. (NASDAQ:ALGN) earned “Neutral” rating by Robert W. Baird on Monday, October 3.
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 2016 Q2. 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.
Jefferies Grp Ltd Liability Corporation has invested 0% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN). Glenmede Tru Communication Na, a Pennsylvania-based fund reported 42,167 shares. Liberty Mutual Asset Management accumulated 0.09% or 31,455 shares. Clough Cap Prns Ltd Partnership holds 0.02% or 4,500 shares in its portfolio. Barclays Public Limited Company last reported 64,476 shares in the company. Raymond James & Assoc holds 0.01% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN) for 24,774 shares. Advantus Management has 0.02% invested in the company for 8,837 shares. Riverpark Advisors Ltd Liability Co owns 27,924 shares or 1.1% of their US portfolio. Spectrum Mngmt Gru owns 12,970 shares or 0.43% of their US portfolio. Tiaa Cref Mngmt Limited Liability Corporation holds 0.02% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN) for 402,832 shares. Friedberg Invest accumulated 1.61% or 42,240 shares. Epoch Partners, a New York-based fund reported 8,608 shares. Moreover, Vanguard Gp Incorporated has 0.03% invested in Align Technology, Inc. (NASDAQ:ALGN) for 5.55M shares. Brown Advisory Incorporated has 0% invested in the company for 7,911 shares. Hussman Strategic Advsr Inc last reported 0.53% of its portfolio in the stock.
Insider Transactions: Since May 3, 2016, the stock had 0 insider buys, and 11 sales for $14.56 million net activity. On Monday, August 29 Olson Jennifer sold $74,545 worth of the stock or 799 shares. Another trade for 3,000 shares valued at $231,000 was sold by Pascaud Raphael. 50,000 shares with value of $3.89 million were sold by MORROW GEORGE J on Monday, May 23. Tay Julie sold 3,000 shares worth $277,800. LARKIN C RAYMOND JR also sold $1.12M worth of Align Technology, Inc. (NASDAQ:ALGN) on Thursday, May 5. 13,577 shares were sold by Relic Zelko, worth $1.30M. PRESCOTT THOMAS M also sold $4.83 million worth of Align Technology, Inc. (NASDAQ:ALGN) on Tuesday, May 3.
Align Technology, Inc. designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and computer-aided manufacturing digital services used in dentistry, orthodontics and dental records storage. The company has a market cap of $7.16 billion. The Firm operates through two divisions: Clear Aligner segment and Scanner and Services (Scanner) segment. It has a 43.84 P/E ratio. 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.
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.
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.
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