Align Technology’s stock price rises
On December 28, 2017, Align Technology (ALGN) was the top-performing stock in the S&P 500. The company has generated a return of ~130.0% over the past one-year period, and it has a market capitalization of $18.2 billion.
On December 28, ALGN stock closed at $226.50 per share. ALGN stock registered its 52-week high of $266.40 on November 27, 2017. The stock’s 52-week low was $88.60 per share, reported on January 30, 2017.
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Align Technology manufactures a leading orthodontics product portfolio of 3D digital scanners and clear aligners. These products include iTero Intraoral scanners, OrthoCAD digital services, and Invisalign clear aligners.
Developments impacting Align Technology’s stock price performance
On October 27, 2017, Align Technology (ALGN) reported its 3Q17 earnings results and registered a strong company performance exceeding analysts’ estimates. The development triggered positive investor sentiment, which led to a rise in the company’s stock price on the day.
On October 30, 2017, Morgan Stanley upgraded its target price on the stock to $300.00 per share, triggered by the strong 3Q17 earnings results and growth potential of the company. The development led to ALGN’s stock price registering a rise of ~3.0% on the day.
Over the past six months, Align Technology has registered a stock price return of ~48.8%, and the company’s three-month stock price return came in at ~24.0%.