$780.10K in average volume shows that Align Technology, Inc. (ALGN) is heading in the right direction

On Tuesday, Align Technology, Inc. (NASDAQ: ALGN) opened lower -2.37% from the last session, before settling in for the closing price of $319.65. Price fluctuations for ALGN have ranged from $176.34 to $413.20 over the past 52 weeks.

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Over the past five-year period, the growth rate of yearbook sales for the company of the Healthcare sector was 16.58%. Company’s average yearly earnings per share was noted 8.58% at the time writing. With a float of $70.26 million, this company’s outstanding shares have now reached $75.10 million.

Align Technology, Inc. (ALGN) Insider Activity

A key investor’s attitude towards the stock of the Medical Devices industry is another important factor to consider. The insider ownership of Align Technology, Inc. is 6.46%, while institutional ownership is 88.12%. The most recent insider transaction that took place on Feb 29 ’24, was worth 4,548,308. In this transaction Director of this company sold 15,000 shares at a rate of $303.22, taking the stock ownership to the 131,994 shares. Before that another transaction happened on Feb 27 ’24, when Company’s Director sold 10,000 for $313.01, making the entire transaction worth $3,130,075. This insider now owns 146,994 shares in total.

Align Technology, Inc. (ALGN) Earnings and Forecasts

If we go through the results of last quarter, which was made public on 12/30/2023, the company posted $2.42 earnings per share (EPS) for the quarter, besting the agreed prediction (set at $2.18) by $0.24. Wall Street market experts anticipate that the next fiscal year will bring earnings of 2.38 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around 8.58% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 12.50% during the next five years compared to 3.38% growth over the previous five years of trading.

Align Technology, Inc. (NASDAQ: ALGN) Trading Performance Indicators

Check out the current performance indicators for Align Technology, Inc. (ALGN). In the past quarter, the stock posted a quick ratio of 1.04. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 6.07. Likewise, its price to free cash flow for the trailing twelve months is 34.16.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 5.81, a number that is poised to hit 1.97 in the next quarter and is forecasted to reach 10.72 in one year’s time.

Technical Analysis of Align Technology, Inc. (ALGN)

Compared to the last year’s volume of 0.78 million, its volume of 0.52 million showed lagged in the last five days. As of the previous 9 days, the stock’s Stochastic %D was 43.56%. Additionally, its Average True Range was 10.00.

During the past 100 days, Align Technology, Inc.’s (ALGN) raw stochastic average was set at 84.38%, which indicates a significant increase from 32.61% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 30.22% in the past 14 days, which was lower than the 37.79% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $300.86, while its 200-day Moving Average is $294.67. Nevertheless, the first resistance level for the watch stands at $316.13 in the near term. At $320.18, the stock is likely to face the second major resistance level. The third major resistance level sits at $327.86. If the price goes on to break the first support level at $304.40, it is likely to go to the next support level at $296.72. Should the price break the second support level, the third support level stands at $292.67.

Align Technology, Inc. (NASDAQ: ALGN) Key Stats

There are currently 75,104K shares outstanding in the company with a market cap of 23.44 billion. Presently, the company’s annual sales total 3,862 M according to its annual income of 445,050 K. Last quarter, the company’s sales amounted to 956,730 K and its income totaled 124,010 K.