Align Technology (NASDAQ:ALGN) Releases Earnings Results

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

Align Technology Price Performance

Shares of NASDAQ ALGN traded up $2.88 during mid-day trading on Friday, hitting $219.30. The company had a trading volume of 1,145,141 shares, compared to its average volume of 780,594. Align Technology has a 12 month low of $176.34 and a 12 month high of $335.40. The stock has a market cap of $16.51 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 5.33 and a beta of 1.64. The firm’s 50 day simple moving average is $233.41 and its two-hundred day simple moving average is $250.02.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ALGN shares. Robert W. Baird lowered their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Evercore ISI decreased their price objective on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday. Stifel Nicolaus dropped their target price on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Piper Sandler lowered their price objective on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $276.38.

Insider Buying and Selling

In related news, Director C Raymond Larkin, Jr. bought 6,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the purchase, the director now owns 28,247 shares of the company’s stock, valued at $6,647,366.51. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is owned by company insiders.

About Align Technology

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.