Align Technology Inc. (NASDAQ:ALGN) shares reached a new 52-week high during 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.

ALGN has been the topic of a number of research reports. Jefferies Group restated a “buy” rating and set a $85.00 price target on shares of Align Technology in a research note on Friday, April 29th. Morgan Stanley restated a “buy” rating and set a $84.00 price target on shares of Align Technology in a research note on Friday, April 29th. Credit Suisse Group AG initiated coverage on Align Technology in a research note on Wednesday, May 11th. They issued an “outperform” rating and a $84.00 price objective on the stock. Zacks Investment Research cut Align Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $82.00 price objective (up from $74.00) on shares of Align Technology in a research note on Tuesday, May 17th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $83.09.

The firm has a market cap of $7.47 billion and a PE ratio of 45.55. The company’s 50-day moving average is $84.66 and its 200-day moving average is $75.03.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.14. The company had revenue of $269.40 million for the quarter, compared to analysts’ expectations of $259.29 million. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, equities research analysts expect that Align Technology Inc. will post $2.27 EPS for the current fiscal year.

In other news, Director George J. Morrow sold 50,000 shares of the business’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 completion of the sale, the director now directly owns 56,400 shares of the company’s stock, valued at approximately $4,383,408. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Raphael Pascaud sold 3,000 shares of the business’s 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 sale, the vice president now directly owns 5,887 shares of the company’s stock, valued at $453,299. The disclosure for this sale can be found here.

Other hedge funds recently made changes to their positions in the company. Bank of Montreal Can boosted its stake 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 bought a new stake in shares of Align Technology during the fourth quarter valued at about $4,811,000. State of Tennessee Treasury Department boosted 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 valued at $8,561,000 after buying an additional 110,000 shares in the last quarter. US Bancorp DE boosted 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 valued at $9,464,000 after buying an additional 121,429 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake 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 valued at $15,383,000 after buying an additional 4,547 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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