Align Technology, Inc. Draws Bearish Options Activity Today

 Align Technology, Inc. Draws Bearish Options Activity Today

In today’s session Align Technology, Inc. (ALGN) recorded an unusually high (456) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious ALGN decrease. With 456 contracts traded and 1374 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: ALGN161216P00095000 closed last at: $2.1 or 6.7% down. About 47,210 shares traded hands. Align Technology, Inc. (NASDAQ:ALGN) has risen 27.63% since April 26, 2016 and is uptrending. It has outperformed by 22.37% the S&P500.

Analysts await Align Technology, Inc. (NASDAQ:ALGN) to report earnings on January, 26. They expect $0.67 earnings per share, up 11.67% or $0.07 from last year’s $0.6 per share. ALGN’s profit will be $52.94 million for 35.51 P/E if the $0.67 EPS becomes a reality. After $0.63 actual earnings per share reported by Align Technology, Inc. for the previous quarter, Wall Street now forecasts 6.35% 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. $110 is the highest target while $72 is the lowest. The $82.29 average target is -13.54% below today’s ($95.18) stock price. Align Technology has been the topic of 15 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The company was initiated on Wednesday, November 18 by Piper Jaffray. Robert W. Baird downgraded the shares of ALGN in a report on Monday, October 3 to “Neutral” rating. The firm has “Buy” rating by Roth Capital given on Wednesday, March 23. The firm earned “Outperform” rating on Friday, September 11 by Leerink Swann. The stock of Align Technology, Inc. (NASDAQ:ALGN) has “Outperform” rating given on Wednesday, May 11 by Credit Suisse. Stifel Nicolaus maintained Align Technology, Inc. (NASDAQ:ALGN) on Friday, October 23 with “Buy” rating. Stifel Nicolaus maintained the shares of ALGN in a report on Monday, November 28 with “Buy” rating. Stifel Nicolaus maintained Align Technology, Inc. (NASDAQ:ALGN) rating on Friday, January 29. Stifel Nicolaus has “Buy” rating and $82 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 1.41 in 2016 Q2. Its up 0.16, from 1.25 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.
Rathbone Brothers Public Ltd owns 261,000 shares or 1.16% of their US portfolio. Princeton Portfolio Strategies Group Inc Inc Limited Liability Company last reported 12,350 shares in the company. Swiss Bank & Trust has 0.02% invested in the company for 120,264 shares. State Treasurer State Of Michigan accumulated 0.02% or 29,300 shares. Evercore Wealth Ltd Llc last reported 0% of its portfolio in the stock. Moreover, Brick & Kyle Associates has 0.02% invested in Align Technology, Inc. (NASDAQ:ALGN) for 250 shares. Qs Investors Limited Company accumulated 0.05% or 68,297 shares. Federated Pa owns 41,648 shares or 0.01% of their US portfolio. Mutual Of America Cap Management Limited Liability Com has 0.1% invested in the company for 57,949 shares. Endurance Wealth Mngmt holds 0.01% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN) for 700 shares. Old Dominion Capital holds 6,128 shares or 0.59% of its portfolio. Piedmont Inv Advsr Limited Co accumulated 0% or 17 shares. Northern Tru Corporation has 947,880 shares for 0.02% of their US portfolio. Fisher Asset Limited Company reported 116,266 shares or 0.02% of all its holdings. Fuller Thaler Asset Mngmt has 655 shares for 0% of their US portfolio.

Insider Transactions: Since August 9, 2016, the stock had 0 insider purchases, and 7 selling transactions for $12.87 million net activity. LACOB JOSEPH sold $3.45 million worth of Align Technology, Inc. (NASDAQ:ALGN) on Tuesday, November 15. Olson Jennifer sold $74,545 worth of Align Technology, Inc. (NASDAQ:ALGN) on Monday, August 29. WHITE DAVID L sold 11,152 shares worth $1.07 million. 3,000 shares were sold by Tay Julie, worth $277,800. Another trade for 13,577 shares valued at $1.30 million was sold by Relic Zelko. Shares for $979,130 were sold by SANTORA GREG J.

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 $7.52 billion. The Firm operates through two divisions: Clear Aligner segment and Scanner and Services (Scanner) segment. It has a 40.56 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: “Align Technology Inc. Beats Q3 Expectations With Record Invisalign Volume” on November 07, 2016.

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