Align Technology, Inc. [NASDAQ: ALGN] traded at a high on Thursday, posting a 2.27 gain after which it closed the day’ session at $273.38. The company report on January 31, 2024 at 4:05 PM that Align Technology Among Top 300 Worldwide Organizations Granted U.S. Patents in 2023.
Intellectual Property Owners Association Annual Report Lists 158 U.S. Patents Granted to Align in 2023 – a 36% Increase from 2022.
Align Technology, Inc. (NASDAQ: ALGN), a leading global medical device company that designs, manufactures, and sells the Invisalign® system of clear aligners, iTero™ intraoral scanners, and exocad™ CAD/CAM software for digital orthodontics and restorative dentistry, today announced that for the first time, Align Technology is included in the Intellectual Property Owners Association annual report of the top 300 organizations granted U.S. patents. For 2023, Align is at position #270, with 158 U.S. patents granted, a 36% increase compared to 2022.
The results of the trading session contributed to over 4902075 shares changing hands. Over the past one week, the price volatility of Align Technology, Inc. stands at 6.01% while the volatility over the past one month is 4.07%.
The market cap for ALGN stock reached $20.94 billion, with 77.27 million shares outstanding and 71.62 million shares in the current float. Compared to the average trading volume of 1.12M shares, ALGN reached a trading volume of 4902075 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $303.71 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 2.00. 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.
Goldman have made an estimate for Align Technology, Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on December 11, 2023.
The Average True Range (ATR) for Align Technology, Inc. is set at 11.54, with the Price to Sales ratio for ALGN stock in the period of the last 12 months amounting to 5.42. The Price to Book ratio for the last quarter was 5.51, with the Price to Cash per share for the same quarter was set at 12.70. Price to Free Cash Flow for ALGN in the course of the last twelve months was 30.52 with Quick ratio for the last quarter at 1.04.
How has ALGN stock performed recently?
Align Technology, Inc. [ALGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.30. With this latest performance, ALGN shares gained by 1.66% in over the last four-week period, additionally sinking by -25.59% over the last 6 months – not to mention a rise of 1.35% 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 57.78, with the RSI for the last a single of trading hit 58.88, and the three-weeks RSI is set at 57.04 for Align Technology, Inc. [ALGN]. The present Moving Average for the last 50 days of trading for this stock 250.78, while it was recorded at 268.02 for the last single week of trading, and 295.01 for the last 200 days.
Align Technology, Inc. [ALGN]: Deeper insight into the fundamentals
Align Technology, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.04 and a Current Ratio set at 1.18.
Earnings analysis for Align Technology, Inc. [ALGN]
With the latest financial reports released by the company, Align Technology, Inc. posted 1.82/share EPS, while the average EPS was predicted by analysts to be reported at 1.68/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.30%. 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 43.25%.
Insider trade positions for Align Technology, Inc. [ALGN]
The top three institutional holders of ALGN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ALGN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ALGN stock with ownership which is approximately 5.8325%.
