Traders purchased shares of Align Technology Inc. (NASDAQ:ALGN) on weakness during trading hours on Thursday. $32.49 million flowed into the stock on the tick-up and $20.34 million flowed out of the stock on the tick-down, for a money net flow of $12.15 million into the stock. Of all companies tracked, Align Technology had the 18th highest net in-flow for the day. Align Technology traded down ($0.23) for the day and closed at $91.72

A number of analysts have issued reports on the company. Morgan Stanley reissued a “buy” rating on shares of Align Technology in a research report on Saturday, May 14th. Credit Suisse Group AG reissued a “buy” rating on shares of Align Technology in a research report on Saturday, June 4th. Leerink Swann reissued a “buy” rating on shares of Align Technology in a research report on Saturday, June 4th. Robert W. Baird reissued a “buy” rating on shares of Align Technology in a research report on Saturday, June 4th. Finally, Zacks Investment Research raised Align Technology from a “hold” rating to a “strong-buy” rating and set a $97.00 target price for the company in a research report on Wednesday, July 13th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $83.09.

The stock has a 50 day moving average of $83.16 and a 200 day moving average of $74.11. The stock has a market capitalization of $7.33 billion and a PE ratio of 44.74.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. The firm had revenue of $269.40 million for the quarter, compared to the consensus estimate of $259.29 million. Align Technology’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. On average, equities research analysts forecast that Align Technology Inc. will post $2.26 EPS for the current year.

In other news, VP Julie Tay sold 1,250 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $77.00, for a total transaction of $96,250.00. Following the transaction, the vice president now directly owns 6,104 shares of the company’s stock, valued at approximately $470,008. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director George J. Morrow sold 50,000 shares of the stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $77.72, for a total value of $3,886,000.00. Following the transaction, the director now directly owns 56,400 shares in the company, valued at $4,383,408. The disclosure for this sale can be found here.

Other institutional investors have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC boosted its position in 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. Principal Financial Group Inc. boosted 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 worth $15,383,000 after buying an additional 4,547 shares in the last quarter. Westfield Capital Management Co. LP boosted 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 worth $94,123,000 after buying an additional 29,971 shares in the last quarter. Morgan Stanley boosted its position in shares of Align Technology by 38.5% in the fourth quarter. Morgan Stanley now owns 156,995 shares of the company’s stock worth $10,338,000 after buying an additional 43,682 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Align Technology by 398.8% in the fourth quarter. Bank of Montreal Can now owns 61,089 shares of the company’s stock worth $4,023,000 after buying an additional 48,843 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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