Align Technology Inc. [ALGN] Stock trading around $453.23 per share: What’s Next?

Align Technology Inc. [NASDAQ: ALGN] stock went on an upward path that rose over 34.97% on Thursday, amounting to a one-week price increase of more than 34.62%. The company report on October 22, 2020 that DPW Holdings’ Gresham Worldwide Business Announces Development Agreement with Global Medical Device Company.

Gresham Worldwide’s Subsidiary, Enertec Systems 2001, Ltd., Enters into Agreement to Develop Testing Facilities with Align Technology, Inc.

DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”) announced that its global defense and technology business, Gresham Worldwide, Inc. (“Gresham Worldwide”), has entered into an agreement to develop medical testing facilities with Align Technology, Inc. (NASDAQ: ALGN), a global medical device company, through Gresham Worldwide’s wholly owned subsidiary, Enertec Systems 2001, Ltd. (“Enertec”).

Over the last 12 months, ALGN stock rose by 108.38%. The one-year Align Technology Inc. stock forecast points to a potential downside of -38.6. The average equity rating for ALGN stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $35.72 billion, with 78.77 million shares outstanding and 72.38 million shares in the current float. Compared to the average trading volume of 659.07K shares, ALGN stock reached a trading volume of 5112554 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Align Technology Inc. [ALGN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALGN shares is $327.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALGN stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Berenberg have made an estimate for Align Technology Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 29, 2020. The new note on the price target was released on July 20, 2020, representing the official price target for Align Technology Inc. stock. On October 24, 2019, analysts increased their price target for ALGN shares from 220 to 240.

The Average True Range (ATR) for Align Technology Inc. is set at 19.85, with the Price to Sales ratio for ALGN stock in the period of the last 12 months amounting to 16.54. The Price to Book ratio for the last quarter was 12.55, with the Price to Cash per share for the same quarter was set at 5.13. Price to Free Cash Flow for ALGN in the course of the last twelve months was 95.83 with Quick ratio for the last quarter at 1.10.

ALGN Stock Performance Analysis:

Align Technology Inc. [ALGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 34.62. With this latest performance, ALGN shares gained by 47.00% in over the last four-week period, additionally plugging by 136.09% over the last 6 months – not to mention a rise of 108.38% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALGN stock in for the last two-week period is set at 85.26, with the RSI for the last a single of trading hit 90.14, and the three-weeks RSI is set at 80.66 for Align Technology Inc. [ALGN]. The present Moving Average for the last 50 days of trading for this stock 320.36, while it was recorded at 357.40 for the last single week of trading, and 262.62 for the last 200 days.

Insight into Align Technology Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Align Technology Inc. [ALGN] shares currently have an operating margin of +21.38 and a Gross Margin at +72.97. Align Technology Inc.’s Net Margin is presently recorded at +18.40.

Return on Total Capital for ALGN is now 38.71, given the latest momentum, and Return on Invested Capital for the company is 33.51. Return on Equity for this stock inclined to 34.07, with Return on Assets sitting at 19.45. When it comes to the capital structure of this company, Align Technology Inc. [ALGN] has a Total Debt to Total Equity ratio set at 4.40. Additionally, ALGN Total Debt to Total Capital is recorded at 4.21, with Total Debt to Total Assets ending up at 2.37. Long-Term Debt to Equity for the company is recorded at 3.23, with the Long-Term Debt to Total Capital now at 3.09.

Reflecting on the efficiency of the workforce at the company, Align Technology Inc. [ALGN] managed to generate an average of $30,473 per employee. Receivables Turnover for the company is 4.54 with a Total Asset Turnover recorded at a value of 1.06.Align Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.20.

ALGN Stock EPS

With the latest financial reports released by the company, Align Technology Inc. posted 1.28/share EPS, while the average EPS was predicted by analysts to be reported at 1.14/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ALGN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Align Technology Inc. go to 12.91%.

Align Technology Inc. [ALGN] Insider Position Details

There are presently around $31,261 million, or 89.60% of ALGN stock, in the hands of institutional investors. The top three institutional holders of ALGN stocks are: VANGUARD GROUP INC with ownership of 8,032,446, which is approximately -2.212% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 5,548,550 shares of the stock with an approximate value of $2.51 billion in ALGN stocks shares; and EDGEWOOD MANAGEMENT LLC, currently with $2.33 billion in ALGN stock with ownership of nearly 7.503% of the company’s market capitalization.

Positions in Align Technology Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 306 institutional holders increased their position in Align Technology Inc. [NASDAQ:ALGN] by around 8,360,519 shares. Additionally, 310 investors decreased positions by around 7,966,721 shares, while 77 investors held positions by with 52,646,822 shares. The mentioned changes placed institutional holdings at 68,974,062 shares, according to the latest SEC report filing. ALGN stock had 89 new institutional investments in for a total of 2,225,506 shares, while 78 institutional investors sold positions of 1,597,592 shares during the same period.

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