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

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

Align Technology Price Performance

Align Technology stock opened at $216.42 on Friday. The firm has a market capitalization of $16.29 billion, a P/E ratio of 35.65, a PEG ratio of 5.33 and a beta of 1.64. Align Technology has a one year low of $176.34 and a one year high of $335.40. The business has a fifty day moving average price of $234.20 and a 200-day moving average price of $250.96.

Analyst Upgrades and Downgrades

ALGN has been the subject of several research analyst reports. Morgan Stanley decreased their target price on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday. 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 report on Thursday. Robert W. Baird dropped their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research note on Thursday. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Thursday. Finally, Stifel Nicolaus dropped their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology has a consensus rating of “Hold” and an average target price of $276.38.

Insider Activity at Align Technology

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 stock was acquired at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the purchase, the director now directly owns 28,247 shares in the company, valued at $6,647,366.51. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

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.