Align Technology Inc. (NASDAQ:ALGN) shares saw unusually-strong trading volume on Wednesday . Approximately 1,111,483 shares traded hands during mid-day trading, an increase of 80% from the previous session’s volume of 618,143 shares.The stock last traded at $81.25 and had previously closed at $80.87.

A number of analysts have recently weighed in on ALGN shares. Morgan Stanley reiterated a “buy” rating and issued a $84.00 price objective on shares of Align Technology in a research note on Friday, April 29th. Jefferies Group reiterated a “buy” rating and issued a $85.00 price objective on shares of Align Technology in a research note on Friday, April 29th. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Wednesday, March 30th. Canaccord Genuity reiterated a “buy” rating and issued a $80.00 price objective (up previously from $72.00) on shares of Align Technology in a research note on Thursday, March 24th. Finally, Roth Capital increased their price objective on shares of Align Technology from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, March 23rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Align Technology presently has an average rating of “Buy” and a consensus target price of $80.45.

The firm has a market cap of $6.51 billion and a PE ratio of 44.40. The firm has a 50-day moving average of $79.12 and a 200-day moving average of $71.02.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.40 by $0.10. The business earned $238.70 million during the quarter, compared to analysts’ expectations of $236.22 million. During the same quarter last year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. On average, analysts anticipate that Align Technology Inc. will post $2.15 EPS for the current year.

In related news, Director Thomas M. Prescott sold 64,773 shares of the company’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $74.54, for a total value of $4,828,179.42. Following the completion of the sale, the director now owns 111,253 shares in the company, valued at approximately $8,292,798.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director C Raymond Larkin, Jr. sold 15,000 shares of the company’s stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $74.36, for a total transaction of $1,115,400.00. Following the completion of the sale, the director now owns 85,260 shares of the company’s stock, valued at approximately $6,339,933.60. The disclosure for this sale can be found here.

A number of hedge funds have added to or reduced their stakes in ALGN. Vanguard Group Inc. increased its stake in Align Technology by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,766,319 shares of the company’s stock valued at $313,863,000 after buying an additional 73,258 shares during the period. Columbia Wanger Asset Management LLC boosted its position in shares of Align Technology by 138.7% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 2,942,240 shares of the company’s stock valued at $193,747,000 after buying an additional 1,709,750 shares in the last quarter. Columbus Circle Investors purchased a new position in shares of Align Technology during the fourth quarter valued at about $57,389,000. Eagle Asset Management boosted its position in shares of Align Technology by 175.5% in the third quarter. Eagle Asset Management now owns 436,836 shares of the company’s stock valued at $24,794,000 after buying an additional 278,249 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Align Technology by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 382,245 shares of the company’s stock valued at $25,171,000 after buying an additional 17,998 shares in the last quarter.

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and 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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