The stock of Align Technology, Inc. (NASDAQ:ALGN) hit a new 52-week high and has $138.95 target or 44.00% above today’s $96.49 share price. The 8 months bullish chart indicates low risk for the $7.95 billion company. The 1-year high was reported on Nov, 18 by Barchart.com. If the $138.95 price target is reached, the company will be worth $3.50B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 71,031 shares traded hands. Align Technology, Inc. (NASDAQ:ALGN) has risen 32.07% since April 18, 2016 and is uptrending. It has outperformed by 27.64% the S&P500.
Align Technology, Inc. (NASDAQ:ALGN) Ratings Coverage
Out of 8 analysts covering Align Technology (NASDAQ:ALGN), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. $84 is the highest target while $72 is the lowest. The $78.29 average target is -18.86% below today’s ($96.49) stock price. Align Technology has been the topic of 14 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Monday, October 3 by Robert W. Baird. The stock of Align Technology, Inc. (NASDAQ:ALGN) has “Outperform” rating given on Friday, September 11 by Leerink Swann. Stifel Nicolaus maintained Align Technology, Inc. (NASDAQ:ALGN) on Friday, October 23 with “Buy” rating. The stock has “Buy” rating given by Roth Capital on Wednesday, March 23. Credit Suisse initiated Align Technology, Inc. (NASDAQ:ALGN) rating on Wednesday, May 11. Credit Suisse has “Outperform” rating and $84 price target. The company was maintained on Friday, January 29 by Stifel Nicolaus. On Wednesday, November 18 the stock rating was initiated by Piper Jaffray with “Overweight”.
According to Zacks Investment Research, “Align Technology Inc. designs, manufactures and markets the Invisalign System, a proprietary method for treating malocclusion. The System corrects malocclusion using a series of clear, removable appliances that gently move teeth to a desired final position. Because it does not rely on the use of metal or ceramic brackets and wires, the System significantly reduces the aesthetic and other limitations associated with braces. The Invisalign System also offers orthodontists a new means of carrying out their diagnosis and treatment planning processes.”
Insitutional Activity: The institutional sentiment increased to 1.41 in Q2 2016. Its up 0.16, from 1.25 in 2016Q1. The ratio is positive, as 33 funds sold all Align Technology, Inc. shares owned while 99 reduced positions. 62 funds bought stakes while 103 increased positions. They now own 64.99 million shares or 4.19% less from 67.84 million shares in 2016Q1.
Quantitative Mngmt Lc has 0.08% invested in the company for 22,100 shares. Financial Architects holds 0% or 108 shares in its portfolio. Washington Trust Savings Bank holds 0% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN) for 55 shares. The Illinois-based Geneva Advisors Lc has invested 1.39% in Align Technology, Inc. (NASDAQ:ALGN). Matarin Capital Mngmt Ltd Company last reported 4,228 shares in the company. Fifth Third National Bank has 2,560 shares for 0% of their US portfolio. Permanens L P last reported 4,000 shares in the company. The Kansas-based Waddell And Reed Fincl has invested 0.19% in Align Technology, Inc. (NASDAQ:ALGN). Blair William Il last reported 0.23% of its portfolio in the stock. Quantum accumulated 2.32% or 203,669 shares. Profund Advsrs has 9,846 shares for 0.04% of their US portfolio. The New York-based Qs Investors Limited Liability Corporation has invested 0.05% in Align Technology, Inc. (NASDAQ:ALGN). Marshall Wace Llp last reported 7,128 shares in the company. Thompson Siegel And Walmsley Limited Liability holds 528 shares or 0% of its portfolio. Moreover, Proshare Advsr Limited Liability Corporation has 0.01% invested in Align Technology, Inc. (NASDAQ:ALGN) for 8,459 shares.
Insider Transactions: Since May 23, 2016, the stock had 0 buys, and 7 sales for $15.69 million net activity. $3.89M worth of shares were sold by MORROW GEORGE J on Monday, May 23. Shares for $1.30M were sold by Relic Zelko. 799 shares with value of $74,545 were sold by Olson Jennifer on Monday, August 29. $277,800 worth of Align Technology, Inc. (NASDAQ:ALGN) was sold by Tay Julie on Tuesday, August 9. 62,479 shares were sold by LACOB JOSEPH, worth $5.72M on Friday, November 11. Shares for $979,130 were sold by SANTORA GREG J.
More news for Align Technology, Inc. (NASDAQ:ALGN) were recently published by: Fool.com, which released: “Align Technology Inc. Beats Q3 Expectations With Record Invisalign Volume” on November 07, 2016. Forbes.com‘s article titled: “Relative Strength Alert For Align Technology” and published on October 26, 2016 is yet another important article.
ALGN Company Profile
Align Technology, Inc., incorporated on April 3, 1997, designs, makes 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 Firm operates through two divisions: Clear Aligner segment and Scanner and Services (Scanner) segment. The Clear Aligner segment consists of its Invisalign System, which includes Invisalign Full, Express/Lite, Teen, Assist and Vivera Retainers, along with its training and ancillary products for treating malocclusion. The Scanner segment consists of intra-oral scanning systems and other services available with the intra-oral scanners that provide digital alternatives to the traditional cast models. The Company’s iTero scanner is used by dental professionals, and labs and services for restorative and orthodontic digital procedures, as well as Invisalign digital impression submission.
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