Align Technology (ALGN) Shares are Up 4.16%

Align Technology (ALGN) : Traders are bullish on Align Technology (ALGN) as it has outperformed the S&P 500 by a wide margin of 14.87% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.1%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.16% in the last 1 week, and is up 16.05% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 8.89% and the 50-Day Moving Average is 14.82%. Align Technology (NASDAQ:ALGN): stock turned positive on Friday. Though the stock opened at $94.84, the bulls momentum made the stock top out at $95.78 level for the day. The stock recorded a low of $94.56 and closed the trading day at $95.65, in the green by 1.08%. The total traded volume for the day was 889,585. The stock had closed at $94.63 in the previous days trading.


The company Insiders own 2% of Align Technology shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -49.15% . Institutional Investors own 89.87% of Align Technology shares. During last six month period, the net percent change held by insiders has seen a change of -39.54%. Also, In the latest statement by the brokerage house, Stifel Nicolaus maintains its outlook on Align Technology (NASDAQ:ALGN). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm raises the price target from $82 per share to $95 per share. The rating by the firm was issued on July 28, 2016.

Align Technology, Inc. (Align) 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 Companys Clear Aligner segment provides malocclusion and orthodontic treatment. The Companys Scanners and Services Segment offers iTero intraoral scanner, which utilizes laser and optical scanning to capture the contours of the patients 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.

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