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

ALGN has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research report on Wednesday, March 30th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $82.00 price objective (up previously from $74.00) on shares of Align Technology in a research report on Tuesday, May 17th. Morgan Stanley reiterated a “buy” rating and issued a $84.00 price objective on shares of Align Technology in a research report on Friday, April 29th. Credit Suisse Group AG initiated coverage on shares of Align Technology in a research report on Wednesday, May 11th. They issued an “outperform” rating and a $84.00 price objective for the company. Finally, Stifel Nicolaus upped their price objective on shares of Align Technology from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $83.09.

The firm has a 50-day moving average of $81.34 and a 200-day moving average of $72.93. The company has a market capitalization of $6.82 billion and a PE ratio of 46.50.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.10. The business had revenue of $238.70 million for the quarter, compared to analysts’ expectations of $236.22 million. During the same period in the previous year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. Analysts forecast that Align Technology Inc. will post $2.15 earnings per share for the current year.

In other Align Technology news, VP Julie Tay sold 1,754 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $75.00, for a total transaction of $131,550.00. Following the transaction, the vice president now directly owns 7,354 shares of the company’s stock, valued at approximately $551,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the director now directly owns 111,253 shares in the company, valued at $8,292,798.62. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have modified their holdings of the company. Westfield Capital Management Co. LP increased its position in shares of Align Technology by 2.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,429,348 shares of the company’s stock valued at $94,123,000 after buying an additional 29,971 shares during the last quarter. State of Tennessee Treasury Department increased its position 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 valued at $8,561,000 after buying an additional 110,000 shares during the last quarter. Stephens Inc. AR acquired a new position in shares of Align Technology during the fourth quarter valued at about $4,811,000. US Bancorp DE increased its position 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 valued at $9,464,000 after buying an additional 121,429 shares during the last quarter. Finally, Deere & Co. increased its position in shares of Align Technology by 321.0% in the fourth quarter. Deere & Co. now owns 33,515 shares of the company’s stock valued at $2,207,000 after buying an additional 25,554 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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