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Align Technology Rises On Unusually High Volume (ALGN)

By TheStreet Wire 07/20/12 - 04:19 PM EDT

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

NEW YORK (TheStreet) -- Align Technology (Nasdaq:ALGN) is trading at unusually high volume Friday with 4.9 million shares changing hands. It is currently at 4.1 times its average daily volume and trading up $2.55 (+8%) at $34.25 as of 3:55 p.m. ET.

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Align Technology has a market cap of $2.48 billion and is part of the health care sector and health services industry. Shares are up 33.6% year to date as of the close of trading on Thursday.

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 34.7, equal to the average health services industry P/E ratio 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 growth in earnings per share. 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.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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