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Friday, June 9, 2023

Align Technology Inc. (NASDAQ: ALGN): Is It A Buying Opportunity Again?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Align Technology Inc. (ALGN) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $1.38, or 0.45%, to $306.64. The Align Technology Inc. has recorded 47,722 volume in the after hours trading session. The stock was recently discussed on Yahoo Finance as it revealed that Align Technology to Speak at Upcoming Financial Conference.

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Stocks Info

ALGN belongs to the Healthcare sector of the NASDAQ while operating in the Medical Devices industry. At the end of the last regular session, the stock closed at $305.26 and fluctuated between $308.36 as its day high and $302.42 as its day low. The current market capitalization of Align Technology Inc. is $22.71B. A total of 0.5 million shares were traded on the day, compared to an average of 871.84K shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, ALGN has seen 5 BUY and 5 SELL insider trades, representing the acquisition of 30,232 and the disposition of 13,918 shares. Over the last 12 months, there were 23 BUYs and 6 SELLs from insiders. Insiders purchased 53,494 shares during that period but sold 14,227.

In the most recent transaction, HOGAN JOSEPH M bought 2,928 shares of ALGN for 341.50 per share on Feb 08. After the transaction, the President and CEO now owns 188,417 company shares. In a previous transaction on Feb 08, Morici John bought 587 shares at 341.84 per share. ALGN shares that EVP & Chief Financial Officer owns now total 8,204.

Among the insiders who bought shares, HOGAN JOSEPH M acquired of 10,600 shares on Nov 02 at a per-share price of $188.58. This resulted in the President and CEO holding 185,401 shares of ALGN after the transaction. In another insider transaction, Myong Anne bought 1,500 shares at $190.26 per share on Nov 02. Company shares held by the Director now total 4,794.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for ALGN in the last 3 months, the mean price target is $359.30 with high estimates of $420.00 and low estimates of $225.00. In terms of 52-week highs and lows, ALGN has a high of $368.87 and a low of $172.05.

As of this writing, ALGN has an earnings estimate of $2.03 per share for the current quarter. EPS was calculated based on a consensus of 9 estimates, with a high estimate of $2.06 per share and a lower estimate of $2.01. The company reported an EPS of $1.73 in the last quarter, which was 10.90% higher than expectations of $1.56.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information. ALGN’s latest balance sheet shows that the firm has $1.17B in Cash & Short Term Investments as of fiscal 2021. There were $102.66M in debt and $1.92B in liabilities at the time. Its Book Value Per Share was $46.45, while its Total Shareholder’s Equity was $3.62B.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for ALGN is Buy with a score of 4.40.

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