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

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

Align Technology Price Performance

Shares of Align Technology stock traded up $8.76 during trading hours on Thursday, hitting $216.42. The company had a trading volume of 2,031,887 shares, compared to its average volume of 778,808. The company has a market cap of $16.29 billion, a P/E ratio of 35.65, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64. The company's 50-day moving average is $234.20 and its two-hundred day moving average is $250.96. Align Technology has a twelve month low of $176.34 and a twelve month high of $335.40.

Insider Buying and Selling

In other Align Technology news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the firm's stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on ALGN. Piper Sandler decreased their price objective on shares of Align Technology from $285.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday. Robert W. Baird reduced 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. Evercore ISI reduced their price target on shares of Align Technology from $270.00 to $250.00 and set an "outperform" rating on the stock in a research note 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. Finally, Morgan Stanley cut their target price on shares of Align Technology from $310.00 to $280.00 and set an "overweight" rating on the stock 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 issued a buy rating to the company. Based on data from MarketBeat.com, Align Technology has an average rating of "Hold" and a consensus price target of $276.38.

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.