Align Technology Inc. (NASDAQ:ALGN)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $93.27 and last traded at $92.98, with a volume of 357,013 shares traded. The stock had previously closed at $91.80.

A number of equities analysts have recently issued reports on the company. Morgan Stanley reissued a “buy” rating on shares of Align Technology in a research note on Saturday, May 14th. Credit Suisse Group AG reissued a “buy” rating on shares of Align Technology in a research note on Saturday, June 4th. Leerink Swann reaffirmed a “buy” rating on shares of Align Technology in a research note on Saturday, June 4th. Robert W. Baird reaffirmed a “buy” rating on shares of Align Technology in a research note 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 price objective for the company in a research note on Wednesday, July 13th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $83.09.

The company has a market cap of $7.45 billion and a PE ratio of 45.41. The company’s 50 day moving average price is $83.88 and its 200 day moving average price is $74.66.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.14. The business had revenue of $269.40 million for the quarter, compared to analyst estimates of $259.29 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The business’s quarterly revenue was up 28.6% on a year-over-year basis. On average, equities analysts forecast 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 business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $77.00, for a total transaction of $231,000.00. Following the completion of the transaction, the vice president now directly owns 5,887 shares in the company, valued at $453,299. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George J. Morrow sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $77.72, for a total value of $3,886,000.00. Following the transaction, the director now owns 56,400 shares of the company’s stock, valued at $4,383,408. The disclosure for this sale can be found here.

Several institutional investors have modified their holdings of the company. Bank of Montreal Can increased 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 valued at $4,023,000 after buying an additional 48,843 shares in 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. 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 in the last quarter. 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 in the last quarter. Finally, Morgan Stanley increased 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 valued at $10,338,000 after buying an additional 43,682 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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