Align Technology Inc. (NASDAQ:ALGN) shares hit a new 52-week high on Tuesday . The stock traded as high as $85.28 and last traded at $85.18, with a volume of 170,855 shares. The stock had previously closed at $84.17.

Several research analysts recently weighed in on the company. Zacks Investment Research lowered Align Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Jefferies Group reaffirmed a “buy” rating and issued a $85.00 target price on shares of Align Technology in a research report on Friday, April 29th. Morgan Stanley reaffirmed a “buy” rating and issued a $84.00 target price on shares of Align Technology in a research report on Friday, April 29th. Credit Suisse Group AG assumed coverage on Align Technology in a research report on Wednesday, May 11th. They issued an “outperform” rating and a $84.00 target price on the stock. Finally, Leerink Swann reaffirmed a “buy” rating on shares of Align Technology in a research report on Saturday, June 4th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $81.91.

The stock has a 50 day moving average price of $80.96 and a 200 day moving average price of $72.68. The firm has a market cap of $6.86 billion and a price-to-earnings ratio of 46.78.

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 Thomson Reuters’ consensus estimate of $0.40 by $0.10. The company had revenue of $238.70 million for the quarter, compared to the consensus estimate of $236.22 million. Align Technology’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period last year, the company earned $0.44 earnings per share. On average, equities research analysts predict that Align Technology Inc. will post $2.15 EPS for the current year.

In related news, Director George J. Morrow sold 50,000 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $77.72, for a total transaction of $3,886,000.00. Following the sale, the director now directly owns 56,400 shares in the company, valued at $4,383,408. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas M. Prescott sold 64,773 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $74.54, for a total transaction of $4,828,179.42. Following the sale, the director now owns 111,253 shares in the company, valued at $8,292,798.62. The disclosure for this sale can be found here.

Several large investors recently modified their holdings of ALGN. Eagle Asset Management raised its stake 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 worth $24,794,000 after buying an additional 278,249 shares during the last quarter. US Bancorp DE raised its stake in shares of Align Technology by 544.8% in the fourth quarter. US Bancorp DE now owns 143,717 shares of the company’s stock worth $9,464,000 after buying an additional 121,429 shares during the last quarter. OppenheimerFunds Inc. bought a new stake in shares of Align Technology during the fourth quarter worth approximately $7,573,000. State of Tennessee Treasury Department raised its stake in shares of Align Technology by 550.0% in the fourth quarter. State of Tennessee Treasury Department now owns 130,000 shares of the company’s stock worth $8,561,000 after buying an additional 110,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Align Technology by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,766,319 shares of the company’s stock worth $313,863,000 after buying an additional 73,258 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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