Investors bought shares of Align Technology, Inc. (NASDAQ:ALGN) on weakness during trading hours on Tuesday. $82.44 million flowed into the stock on the tick-up and $28.51 million flowed out of the stock on the tick-down, for a money net flow of $53.93 million into the stock. Of all stocks tracked, Align Technology had the 8th highest net in-flow for the day. Align Technology traded down ($1.16) for the day and closed at $187.18

A number of analysts recently commented on ALGN shares. Piper Jaffray Companies reiterated a “buy” rating and issued a $176.00 target price on shares of Align Technology in a research note on Friday, July 28th. Morgan Stanley reiterated an “overweight” rating and issued a $175.00 target price on shares of Align Technology in a research note on Monday, June 19th. They noted that the move was a valuation call. Northcoast Research reiterated a “buy” rating and issued a $186.00 target price (up from $164.00) on shares of Align Technology in a research note on Wednesday, June 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $200.00 target price (up from $145.00) on shares of Align Technology in a research note on Friday, June 23rd. Finally, Leerink Swann reiterated an “outperform” rating and issued a $199.00 target price (up from $194.00) on shares of Align Technology in a research note on Friday, July 28th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Align Technology presently has a consensus rating of “Buy” and a consensus target price of $179.82.

The firm has a market capitalization of $15.13 billion, a price-to-earnings ratio of 64.65 and a beta of 1.55. The company’s 50 day moving average is $176.23 and its 200 day moving average is $145.25.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. The business had revenue of $356.50 million for the quarter, compared to analyst estimates of $343.43 million. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The company’s revenue for the quarter was up 32.3% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. On average, equities analysts predict that Align Technology, Inc. will post $3.40 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Honkamp Krueger Financial Services Inc. grew its position in shares of Align Technology by 1.7% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 2,037 shares of the medical equipment provider’s stock worth $306,000 after acquiring an additional 34 shares during the last quarter. Buckingham Asset Management LLC grew its position in shares of Align Technology by 3.3% during the second quarter. Buckingham Asset Management LLC now owns 1,861 shares of the medical equipment provider’s stock worth $279,000 after acquiring an additional 59 shares during the last quarter. Security Asset Management grew its position in shares of Align Technology by 0.5% during the second quarter. Security Asset Management now owns 12,735 shares of the medical equipment provider’s stock worth $1,912,000 after acquiring an additional 65 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Align Technology by 6.9% during the first quarter. Van ECK Associates Corp now owns 1,057 shares of the medical equipment provider’s stock worth $121,000 after acquiring an additional 68 shares during the last quarter. Finally, BB&T Securities LLC grew its position in shares of Align Technology by 3.5% during the second quarter. BB&T Securities LLC now owns 2,757 shares of the medical equipment provider’s stock worth $413,000 after acquiring an additional 94 shares during the last quarter. Institutional investors and hedge funds own 81.57% of the company’s stock.

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About Align Technology

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/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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