Align Technology (NASDAQ:ALGN) Issues Earnings Results

Align Technology (NASDAQ:ALGN) posted its quarterly earnings data on Wednesday. The medical equipment provider reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09, Briefing.com reports. Align Technology had a net margin of 11.34% and a return on equity of 14.10%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business posted $1.73 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Align Technology updated its Q3 2024 guidance to EPS and its FY 2024 guidance to EPS.

Align Technology Trading Down 1.5 %

Shares of NASDAQ ALGN traded down $3.41 during mid-day trading on Friday, hitting $222.64. The company had a trading volume of 792,072 shares, compared to its average volume of 775,190. Align Technology has a 1 year low of $176.34 and a 1 year high of $413.20. The company has a market capitalization of $16.76 billion, a price-to-earnings ratio of 37.24, a P/E/G ratio of 4.55 and a beta of 1.66. The stock’s 50-day moving average price is $250.05 and its 200-day moving average price is $280.94.

Wall Street Analyst Weigh In

ALGN has been the topic of several research analyst reports. UBS Group boosted their price objective on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. StockNews.com downgraded shares of Align Technology from a “buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus decreased their price objective on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a report on Thursday. Evercore ISI lowered their price objective on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. Finally, OTR Global reissued a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $330.50.

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.