Is Align Technology, Inc. a Sell? The Stock Had Bearish Options Activity Today

 Is Align Technology, Inc. a Sell? The Stock Had Bearish Options Activity Today

In today’s session Align Technology, Inc. (ALGN) recorded an unusually high (235) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious ALGN decrease. With 235 contracts traded and 52374 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: ALGN161021P00090000 closed last at: $0.75 or 34.8% down. About 399,081 shares traded hands. Align Technology, Inc. (NASDAQ:ALGN) has risen 25.86% since March 14, 2016 and is uptrending. It has outperformed by 20.24% the S&P500.

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 $41.60M for 43.03 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 stock has “Buy” rating given by Stifel Nicolaus on Friday, January 29. Robert W. Baird downgraded the stock to “Neutral” rating in Monday, October 3 report. Stifel Nicolaus maintained Align Technology, Inc. (NASDAQ:ALGN) rating on Friday, October 23. Stifel Nicolaus has “Buy” rating and $80 price target. The stock of Align Technology, Inc. (NASDAQ:ALGN) has “Overweight” rating given on Wednesday, November 18 by Piper Jaffray. The rating was initiated by Leerink Swann with “Outperform” on Friday, September 11. Credit Suisse initiated it with “Outperform” rating and $84 target price in Wednesday, May 11 report. Roth Capital maintained Align Technology, Inc. (NASDAQ:ALGN) rating on Wednesday, March 23. Roth Capital has “Buy” rating and $80 price target.

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 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.
Hanseatic Mgmt Svcs, a New Mexico-based fund reported 31 shares. Cipher L P accumulated 0.12% or 20,801 shares. Moreover, Cwm Ltd Company has 0.01% invested in Align Technology, Inc. (NASDAQ:ALGN) for 1,500 shares. Rathbone Brothers Plc reported 261,000 shares or 1.16% of all its holdings. Matarin Capital Mgmt Limited Com, a Connecticut-based fund reported 4,228 shares. The New York-based Bnp Paribas Arbitrage has invested 0.01% in Align Technology, Inc. (NASDAQ:ALGN). Epoch Partners Inc holds 0% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN) for 8,608 shares. Hussman Strategic Incorporated, a Maryland-based fund reported 43,000 shares. The New York-based Tiaa Cref Investment Mgmt Ltd Company has invested 0.02% in Align Technology, Inc. (NASDAQ:ALGN). Goodman Financial Corporation has 3.84% invested in the company for 79,829 shares. Veritas Investment Management Llp has invested 0.12% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN). Renaissance Limited Liability Corporation, a New York-based fund reported 839,200 shares. Capstone Asset Mngmt reported 9,426 shares or 0.02% of all its holdings. Ubs Asset Americas accumulated 0.01% or 69,212 shares. Virginia Retirement Systems Et Al reported 10,300 shares or 0.01% of all its holdings.

Insider Transactions: Since May 3, 2016, the stock had 0 insider purchases, and 11 selling transactions for $14.56 million net activity. Thaler Warren S sold 7,700 shares worth $573,551. Tay Julie sold $96,250 worth of Align Technology, Inc. (NASDAQ:ALGN) on Tuesday, May 10. GEORGE ROGER E sold $2.05M worth of stock. On Monday, August 29 Olson Jennifer sold $74,545 worth of the stock or 799 shares. Another trade for 50,000 shares valued at $3.89M was sold by MORROW GEORGE J. Another trade for 64,773 shares valued at $4.83 million was sold by PRESCOTT THOMAS M. On Thursday, May 5 LARKIN C RAYMOND JR sold $1.12 million worth of the stock or 15,000 shares.

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 43.51 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 Equitiesfocus.com which published an article titled: “Analyst Revised Target For Align Technology, Inc. (NASDAQ:ALGN) Stock At $99.58” on October 17, 2016.

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