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TheStreet Wire

Align Technology Stock Gaps Up On Today's Open (ALGN)

By TheStreet Wire 04/24/12 - 08:54 AM EDT

Find out if (ALGN) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Shares of Align Technology (Nasdaq:ALGN) were gapping up Tuesday morning with an open price 19.8% higher than Monday's closing price. The stock closed at $27.44 Monday and opened today's trading at $32.86.

The average volume for Align Technology has been 658,900 shares per day over the past 30 days. Align Technology has a market cap of $2.16 billion and is part of the health care sector and health services industry. Shares are up 15.7% year to date as of the close of trading on Monday.

Align Technology, Inc. designs, manufactures, and markets the invisalign system for treating malocclusion or the misalignment of teeth. Invisalign corrects malocclusion using a series of clear, nearly invisible, removable appliances that gently move teeth to a desired final position. The company has a P/E ratio of 33.7, above the average health services industry P/E ratio of 32.8 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Align Technology as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, increase in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Align Technology Ratings Report.

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