Shares of Align Technology Inc. (NASDAQ:ALGN) reached a new 52-week high during trading on Thursday . The company traded as high as $83.18 and last traded at $81.71, with a volume of 498,749 shares traded. The stock had previously closed at $81.25.

A number of analysts recently commented on the company. Credit Suisse Group AG reiterated a “buy” rating on shares of Align Technology in a research report on Saturday, June 4th. Robert W. Baird reiterated a “buy” rating on shares of Align Technology in a research report on Saturday, June 4th. Leerink Swann reiterated a “buy” rating on shares of Align Technology in a research report on Saturday, June 4th. Piper Jaffray Cos. restated an “overweight” rating and issued a $82.00 price target (up previously from $74.00) on shares of Align Technology in a report on Tuesday, May 17th. Finally, Morgan Stanley restated a “buy” rating on shares of Align Technology in a report on Saturday, May 14th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Align Technology presently has an average rating of “Buy” and a consensus target price of $80.45.

The company has a market cap of $6.56 billion and a PE ratio of 44.70. The company has a 50-day moving average of $79.12 and a 200-day moving average of $71.02.

Align Technology (NASDAQ:ALGN) last announced its 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 company had revenue of $238.70 million for the quarter, compared to analysts’ expectations of $236.22 million. During the same period in the prior year, the company earned $0.44 earnings per share. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, equities research analysts predict that Align Technology Inc. will post $2.15 earnings per share for the current fiscal year.

In related news, Director Thomas M. Prescott sold 64,773 shares of the stock in a transaction dated Tuesday, May 3rd. The stock was 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 directly owns 111,253 shares of the company’s stock, valued at approximately $8,292,798.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Julie Tay sold 1,250 shares of the stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $77.00, for a total value of $96,250.00. Following the completion of the sale, the vice president now directly owns 6,104 shares of the company’s stock, valued at $470,008. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently modified their holdings of ALGN. Mutual of America Capital Management LLC raised its position in shares of Align Technology by 0.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 49,160 shares of the company’s stock valued at $3,237,000 after buying an additional 227 shares during the last quarter. Rhumbline Advisers raised its position in shares of Align Technology by 0.6% in the fourth quarter. Rhumbline Advisers now owns 129,702 shares of the company’s stock valued at $8,541,000 after buying an additional 835 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Align Technology by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 233,618 shares of the company’s stock valued at $15,383,000 after buying an additional 4,547 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Align Technology by 4.7% in the fourth quarter. New York State Common Retirement Fund now owns 286,747 shares of the company’s stock valued at $18,882,000 after buying an additional 12,995 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Align Technology by 4.5% in the fourth quarter. California Public Employees Retirement System now owns 354,900 shares of the company’s stock valued at $23,370,000 after buying an additional 15,300 shares during 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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