Align Technology (NASDAQ:ALGN) Releases Earnings Results, Beats Expectations By $0.14 EPS

Align Technology (NASDAQ:ALGN) posted its quarterly earnings results on Wednesday. The medical equipment provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.14, Briefing.com reports. The firm had revenue of $607.30 million for the quarter, compared to analyst estimates of $595.29 million. Align Technology had a return on equity of 29.26% and a net margin of 19.06%. Align Technology’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 earnings per share. Align Technology updated its Q4 2019 guidance to $1.35-1.42 EPS and its Q4 guidance to $1.35-$1.42 EPS.

ALGN stock traded up $31.97 during mid-day trading on Thursday, hitting $249.47. The stock had a trading volume of 4,102,045 shares, compared to its average volume of 1,306,502. The company has a current ratio of 1.85, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. Align Technology has a 1-year low of $169.84 and a 1-year high of $334.64. The company has a fifty day moving average of $187.90 and a 200 day moving average of $247.55. The stock has a market capitalization of $17.06 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 1.76 and a beta of 2.00.

Several research analysts recently weighed in on ALGN shares. Piper Jaffray Companies set a $240.00 price target on Align Technology and gave the company a “buy” rating in a research report on Wednesday, July 31st. Guggenheim lowered Align Technology from a “buy” rating to a “neutral” rating and dropped their price target for the company from $250.00 to $200.00 in a research report on Monday, October 7th. BidaskClub raised Align Technology from a “hold” rating to a “buy” rating in a research report on Monday. Zacks Investment Research lowered Align Technology from a “hold” rating to a “sell” rating and set a $192.00 price target on the stock. in a research report on Wednesday, September 25th. Finally, Robert W. Baird dropped their price target on Align Technology from $336.00 to $259.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Align Technology currently has a consensus rating of “Buy” and an average target price of $248.91.

In other Align Technology news, Director Andrea Lynn Saia sold 4,157 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $179.54, for a total value of $746,347.78. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $177.64, for a total value of $1,776,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,157 shares of company stock worth $7,976,448. Insiders own 1.30% of the company’s stock.

Align Technology Company Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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Earnings History for Align Technology (NASDAQ:ALGN)

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