Somewhat Positive News Coverage Somewhat Unlikely to Affect Align Technology (NASDAQ:ALGN) Stock Price
Media coverage about Align Technology (NASDAQ:ALGN) has trended somewhat positive recently, according to Accern. The research group identifies positive and negative press coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Align Technology earned a coverage optimism score of 0.17 on Accern’s scale. Accern also assigned news coverage about the medical equipment provider an impact score of 46.5303236870768 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news articles that may have impacted Accern’s scoring:
- $0.98 EPS Expected for Align Technology, Inc. (ALGN) This Quarter (americanbankingnews.com)
- Align Technology (ALGN) Raised to Buy at BidaskClub (americanbankingnews.com)
- Align Technology, Inc. (ALGN) Receives Consensus Rating of “Buy” from Analysts (americanbankingnews.com)
- Noteworthy Friday Option Activity: ALGN, LMT, PF – Nasdaq (nasdaq.com)
- $408.25 Million in Sales Expected for Align Technology, Inc. (ALGN) This Quarter (americanbankingnews.com)
Several research firms have recently weighed in on ALGN. Robert W. Baird restated a “buy” rating and issued a $290.00 target price on shares of Align Technology in a research report on Wednesday, November 29th. Morgan Stanley raised their target price on Align Technology from $257.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, November 27th. Stifel Nicolaus raised their target price on Align Technology from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, November 21st. Credit Suisse Group raised their target price on Align Technology from $276.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, BidaskClub upgraded Align Technology from a “hold” rating to a “buy” rating in a research report on Saturday, March 10th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $263.56.
Align Technology (NASDAQ:ALGN) last posted its earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.23. The company had revenue of $421.30 million during the quarter, compared to analysts’ expectations of $395.88 million. Align Technology had a return on equity of 28.55% and a net margin of 15.71%. The firm’s quarterly revenue was up 43.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. analysts expect that Align Technology will post 4.52 earnings per share for the current fiscal year.
In other Align Technology news, insider Joseph M. Hogan bought 1,500 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was bought at an average price of $233.63 per share, with a total value of $350,445.00. Following the completion of the purchase, the insider now directly owns 42,984 shares in the company, valued at $10,042,351.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Emory Wright sold 45,780 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $260.08, for a total value of $11,906,462.40. Following the sale, the vice president now directly owns 29,957 shares of the company’s stock, valued at approximately $7,791,216.56. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
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About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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