Align Technology (NASDAQ:ALGN – Get Free Report) posted its earnings results on Wednesday. The medical equipment provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04, Briefing.com reports. The firm had revenue of $977.87 million for 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%. Align Technology’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.62 earnings per share. Align Technology updated its Q4 2024 guidance to EPS.
Align Technology Trading Up 7.1 %
Shares of NASDAQ:ALGN traded up $14.81 during midday trading on Thursday, hitting $222.47. The stock had a trading volume of 1,065,876 shares, compared to its average volume of 774,134. The stock has a 50 day moving average price of $234.20 and a two-hundred day moving average price of $250.96. The company has a market capitalization of $16.75 billion, a PE ratio of 36.65, a P/E/G ratio of 5.33 and a beta of 1.64. Align Technology has a 1 year low of $176.34 and a 1 year high of $335.40.
Insider Activity
In other news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the acquisition, the director now directly owns 28,247 shares in the company, valued at approximately $6,647,366.51. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.62% of the company’s stock.
Analyst Ratings Changes
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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.
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