Align Technology boosts stock repurchase program by $600 million, lifts revenue growth target

Align Technology Inc. raised on Wednesday its revenue growth target and boosted its share repurchase program by $600 million. The company said at its investor day that it now targets revenue growth of 20% to 30%, compared with its previous target of 15% to 25%, while affirming its second-quarter and fiscal 2018 outlook. The company said the new share repurchase authorization is in addition to the $300 million program announced in in April 2016, which currently has $100 million remaining in the program. The stock slipped 0.3% in light premarket trade. It has soared 34% year to date through Tuesday, while the S&P 500 has gained 1.9%.