Align Technology, Inc. (NASDAQ:ALGN) announced its earnings results on Thursday. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08, Marketbeat.com reports. The business had revenue of $230.30 million for the quarter, compared to analyst estimates of $226.68 million.

Align Technology (NASDAQ:ALGN) traded down 3.13% during midday trading on Thursday, reaching $59.50. 1,201,710 shares of the company were exchanged. Align Technology has a 52-week low of $51.65 and a 52-week high of $68.48. The stock has a market capitalization of $4.73 billion and a price-to-earnings ratio of 36.06. The firm’s 50-day moving average price is $63.48 and its 200 day moving average price is $61.81.

In related news, VP Julie Tay sold 1,500 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $66.67, for a total value of $100,005.00. Following the completion of the transaction, the vice president now owns 500 shares in the company, valued at approximately $33,335. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David C. Nagel sold 1,100 shares of the stock in a transaction dated Tuesday, January 5th. The shares were sold at an average price of $64.64, for a total transaction of $71,104.00. Following the completion of the transaction, the director now owns 24,700 shares of the company’s stock, valued at approximately $1,596,608. The disclosure for this sale can be found here.

An institutional investor recently raised its position in Align Technology stock. Russell Frank Co increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 12.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The hedge fund owned 177,275 shares of the company’s stock after buying an additional 19,026 shares during the period. Russell Frank Co owned approximately 0.22% of Align Technology worth $11,717,000 at the end of the most recent quarter.

ALGN has been the subject of a number of research reports. Piper Jaffray initiated coverage on shares of Align Technology in a research report on Wednesday, November 18th. They set an “overweight” rating and a $74.00 target price for the company. Roth Capital restated a “buy” rating on shares of Align Technology in a research report on Tuesday, October 20th. Zacks Investment Research upgraded shares of Align Technology from a “sell” rating to a “hold” rating in a research report on Tuesday, January 12th. Leerink Swann restated a “buy” rating and set a $75.00 target price (up previously from $70.00) on shares of Align Technology in a research report on Sunday, October 25th. Finally, Robert W. Baird lifted their target price on shares of Align Technology from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, October 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $73.67.

Align Technology, Inc. (NASDAQ:ALGN) is a medical device company. The Company 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 for dentistry, orthodontics, and dental records storage. The Company operates through two segments: Clear Aligner, known as the Invisalign system, and Scanners and Services, known as the iTero intraoral scanner and OrthoCAD services. The Company’s Clear Aligner segment provides malocclusion and orthodontic treatment. The Company’s Scanners and Services Segment offers iTero intraoral scanner, which utilizes laser and optical scanning to capture the contours of the patient’s dentition, gingival structures and the bite. It distributes products directly to customers, including orthodontists and general practitioner dentists (GPs), as well as to restorative dentists, including prosthodontists, periodontists and oral surgeons.

12 Month Chart for NASDAQ:ALGN

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