Align Technology, Inc. (ALGN) Reaches New 52-Week High at $255.30

Align Technology, Inc. (NASDAQ:ALGN) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $255.30 and last traded at $255.49, with a volume of 607030 shares trading hands. The stock had previously closed at $249.46.

ALGN has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 21st. Stifel Nicolaus reissued a “buy” rating and issued a $225.00 price target (up from $205.00) on shares of Align Technology in a research note on Thursday, October 19th. Morgan Stanley reissued an “overweight” rating and issued a $220.00 price target (up from $195.00) on shares of Align Technology in a research note on Friday, October 6th. Northcoast Research reissued a “buy” rating and issued a $230.00 price target (up from $200.00) on shares of Align Technology in a research note on Tuesday, October 10th. Finally, Robert W. Baird reissued a “buy” rating on shares of Align Technology in a research note on Tuesday, September 12th. Eleven research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $219.18.

The company has a market cap of $20,343.49, a P/E ratio of 75.07, a price-to-earnings-growth ratio of 2.43 and a beta of 1.42.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.19. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The firm had revenue of $385.30 million for the quarter, compared to the consensus estimate of $359.80 million. During the same period in the prior year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up 38.3% on a year-over-year basis. analysts expect that Align Technology, Inc. will post 3.62 earnings per share for the current fiscal year.

In other Align Technology news, Director Greg J. Santora sold 7,700 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total value of $1,839,915.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Raphael Pascaud sold 5,400 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $241.88, for a total transaction of $1,306,152.00. Following the completion of the sale, the chief marketing officer now directly owns 22,228 shares in the company, valued at $5,376,508.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,600 shares of company stock worth $4,031,567. 1.60% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the business. Honkamp Krueger Financial Services Inc. increased its position in shares of Align Technology by 1.7% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 2,037 shares of the medical equipment provider’s stock valued at $306,000 after purchasing an additional 34 shares during the last quarter. Buckingham Asset Management LLC boosted its holdings in shares of Align Technology by 3.3% in the 2nd quarter. Buckingham Asset Management LLC now owns 1,861 shares of the medical equipment provider’s stock valued at $279,000 after buying an additional 59 shares in the last quarter. Security Asset Management boosted its holdings in shares of Align Technology by 0.5% in the 2nd quarter. Security Asset Management now owns 12,735 shares of the medical equipment provider’s stock valued at $1,912,000 after buying an additional 65 shares in the last quarter. BB&T Securities LLC boosted its holdings in shares of Align Technology by 3.5% in the 2nd quarter. BB&T Securities LLC now owns 2,757 shares of the medical equipment provider’s stock valued at $413,000 after buying an additional 94 shares in the last quarter. Finally, Wrapmanager Inc. boosted its holdings in shares of Align Technology by 2.6% in the 2nd quarter. Wrapmanager Inc. now owns 3,835 shares of the medical equipment provider’s stock valued at $576,000 after buying an additional 99 shares in the last quarter. 80.86% of the stock is currently owned by institutional investors.

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Align Technology Company Profile

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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