Align Technology (ALGN) to Release Earnings on Wednesday

Align Technology (NASDAQ:ALGN) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Align Technology to post earnings of $1.98 per share for the quarter. Align Technology has set its Q1 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The firm had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. On average, analysts expect Align Technology to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Align Technology Trading Up 0.6 %

Shares of NASDAQ ALGN opened at $300.82 on Tuesday. The firm has a market capitalization of $22.64 billion, a PE ratio of 51.69, a price-to-earnings-growth ratio of 5.35 and a beta of 1.65. Align Technology has a 1 year low of $176.34 and a 1 year high of $413.20. The firm’s 50-day moving average is $312.75 and its 200-day moving average is $270.03.

Insider Buying and Selling

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Align Technology news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the sale, the director now owns 131,994 shares in the company, valued at $40,023,220.68. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock valued at $8,403,924 in the last 90 days. 0.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ALGN has been the topic of several recent research reports. UBS Group raised their target price on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. SVB Leerink initiated coverage on shares of Align Technology in a research note on Monday, February 26th. They issued a “market perform” rating and a $310.00 target price on the stock. Stifel Nicolaus raised their target price on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. Finally, Piper Sandler raised their target price on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $344.45.

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.