Align Technology (NASDAQ:ALGN) Posts Earnings Results, Beats Estimates By $0.04 EPS

Align Technology (NASDAQ:ALGN) posted its earnings results on Wednesday. The medical equipment provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04, Briefing.com reports. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The business had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. During the same period in the previous year, the company posted $1.62 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Align Technology updated its Q4 2024 guidance to EPS.

Align Technology Stock Up 7.7 %

ALGN stock traded up $15.94 during trading on Thursday, hitting $223.60. 1,102,488 shares of the company’s stock traded hands, compared to its average volume of 774,312. Align Technology has a 52 week low of $176.34 and a 52 week high of $335.40. The stock has a fifty day moving average price of $234.20 and a two-hundred day moving average price of $250.96. The stock has a market capitalization of $16.83 billion, a price-to-earnings ratio of 36.65, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64.

Insider Buying and Selling at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. bought 6,500 shares of the stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the purchase, the director now directly owns 28,247 shares in the company, valued at approximately $6,647,366.51. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ALGN has been the topic of a number of recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Thursday. Piper Sandler dropped their price target on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday. Evercore ISI dropped their price target on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday. Robert W. Baird dropped their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $280.13.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.