Align Technology Inc. Hits New 52-Week High at $47.51 (ALGN)
Shares of Align Technology (NASDAQ:ALGN) hit a new 52-week high on Wednesday, AR Network reports. The company traded as high as $47.51 and last traded at $47.47, with a volume of 464,116 shares trading hands. The stock had previously closed at $47.03.
A number of research firms have recently commented on ALGN. Analysts at Zacks reiterated a “neutral” rating on shares of Align Technology (NASDAQ:ALGN) in a research note to investors on Saturday, July 20th. They now have a $42.00 price target on the stock. Separately, analysts at Roth Capital raised their price target on shares of Align Technology (NASDAQ:ALGN) from $40.00 to $46.00 in a research note to investors on Friday, July 19th. They now have a “buy” rating on the stock. Finally, analysts at JMP Securities raised their EPS on shares of Align Technology (NASDAQ:ALGN) in a research note to investors on Friday, July 19th. They now have an “outperform” rating and a $47.00 price target on the stock. They previously had a $43.00 price target on the stock.
One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $38.57.
In other Align Technology news, SVP Timothy Mack sold 18,477 shares of Align Technology stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $43.32, for a total value of $800,423.64. Following the transaction, the senior vice president now directly owns 3,386 shares in the company. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Align Technology has a 1-year low of $23.45 and a 1-year high of $47.05. The stock has a 50-day moving average of $43.98 and a 200-day moving average of $37.05. The company’s market cap is $3.793 billion.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Thursday, July 18th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.08. The company had revenue of $163.80 million for the quarter, compared to the consensus estimate of $156.13 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, analysts predict that Align Technology will post $1.28 earnings per share for the current fiscal year.
Align Technology, Inc (NASDAQ:ALGN), 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.
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