Align Technology, Inc. (NASDAQ:ALGN) was up 0% on Wednesday . The company traded as high as $246.90 and last traded at $246.34. Approximately 1,212,692 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 1,395,436 shares. The stock had previously closed at $246.34.

A number of equities research analysts have recently weighed in on ALGN shares. Robert W. Baird reiterated a “buy” rating and issued a $245.00 price target on shares of Align Technology in a report on Friday, October 27th. Stifel Nicolaus boosted their price target on Align Technology from $205.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price target for the company in a report on Monday, October 30th. Credit Suisse Group upgraded Align Technology to a “buy” rating and set a $276.00 price target for the company in a report on Thursday, January 4th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $300.00 price target on shares of Align Technology in a report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $258.54.

The firm has a market capitalization of $19,750.00, a P/E ratio of 87.05, a P/E/G ratio of 1.78 and a beta of 1.48.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.23. The firm had revenue of $421.30 million during the quarter, compared to the consensus estimate of $395.88 million. Align Technology had a return on equity of 28.55% and a net margin of 15.71%. The firm’s revenue was up 43.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 EPS. analysts forecast that Align Technology, Inc. will post 4.49 EPS for the current year.

In related news, CFO John Morici sold 1,500 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $255.00, for a total transaction of $382,500.00. Following the completion of the transaction, the chief financial officer now directly owns 1,544 shares in the company, valued at approximately $393,720. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Emory Wright sold 5,025 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $263.68, for a total value of $1,324,992.00. Following the transaction, the vice president now owns 80,762 shares of the company’s stock, valued at $21,295,324.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,029 shares of company stock valued at $21,369,243. 1.60% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in ALGN. Atlantic Trust Group LLC boosted its position in Align Technology by 4,682.8% during the 3rd quarter. Atlantic Trust Group LLC now owns 638,935 shares of the medical equipment provider’s stock worth $119,014,000 after acquiring an additional 625,576 shares during the period. Renaissance Technologies LLC boosted its position in Align Technology by 28.3% during the 4th quarter. Renaissance Technologies LLC now owns 2,614,100 shares of the medical equipment provider’s stock worth $580,827,000 after acquiring an additional 576,900 shares during the period. Carillon Tower Advisers Inc. acquired a new position in Align Technology during the 4th quarter worth $62,895,000. Legal & General Group Plc boosted its position in Align Technology by 221.0% during the 3rd quarter. Legal & General Group Plc now owns 383,295 shares of the medical equipment provider’s stock worth $71,396,000 after acquiring an additional 263,875 shares during the period. Finally, First Republic Investment Management Inc. boosted its position in Align Technology by 496.3% during the 4th quarter. First Republic Investment Management Inc. now owns 192,834 shares of the medical equipment provider’s stock worth $42,845,000 after acquiring an additional 160,496 shares during the period. Institutional investors own 81.99% 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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