Align Technology Stock Hits New 52-Week High (ALGN)

NEW YORK ( TheStreet) -- Align Technology (Nasdaq: ALGN) hit a new 52-week high Tuesday as it is currently trading at $29.60, above its previous 52-week high of $28.72 with 377,323 shares traded as of 12:49 p.m. ET. Average volume has been 667,700 shares over the past 30 days.

Align Technology has a market cap of $1.96 billion and is part of the health care sector and health services industry. Shares are up 21% 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 33.2, below the average health services industry P/E ratio of 35.6 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, increase in net income, good cash flow from operations and solid stock price performance. 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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