Traders bought shares of Align Technology Inc. (NASDAQ:ALGN) on weakness during trading 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

Several research firms have weighed in on ALGN. Stifel Nicolaus lifted 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, July 28th. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating and set a $97.00 price objective on the stock in a research report on Wednesday, July 13th. 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. Finally, Leerink Swann restated a “buy” rating on shares of Align Technology in a 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 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 price of $83.52 and a 200-day moving average price of $74.23. The stock has a market capitalization of $7.34 billion and a PE ratio of 44.80.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Thursday, July 28th. The company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.14. The firm earned $269.40 million during the quarter, compared to analyst estimates of $259.29 million. During the same quarter last year, the business posted $0.39 earnings per share. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. On average, equities research analysts expect that Align Technology Inc. will post $2.27 earnings per share for the current year.

In other news, VP Raphael Pascaud sold 3,000 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $77.00, for a total transaction of $231,000.00. Following the completion of the sale, the vice president now owns 5,887 shares of the company’s stock, valued at $453,299. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George J. Morrow sold 50,000 shares of the stock in a transaction on Monday, May 23rd. The stock was 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 of the company’s stock, valued at approximately $4,383,408. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have added to or reduced their stakes in the company. Bank of Montreal Can increased its position in 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 during the period. Stephens Inc. AR acquired a new position in Align Technology during the fourth quarter worth $4,811,000. OppenheimerFunds Inc. acquired a new position in Align Technology during the fourth quarter worth $7,573,000. State of Tennessee Treasury Department increased its position in 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 period. Finally, US Bancorp DE increased its position in 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 period.

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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