Align Technology (ALGN) to Release Earnings on Wednesday

Align Technology (NASDAQ:ALGN) is scheduled to post its quarterly earnings results after the market closes on Wednesday, October 23rd. Analysts expect Align Technology to post earnings of $2.31 per share for the quarter. Align Technology has set its Q3 2024 guidance at EPS and its FY 2024 guidance at EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business earned $1.73 EPS. Align Technology’s quarterly revenue was up 2.6% on a year-over-year basis. 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 Down 1.0 %

NASDAQ:ALGN opened at $219.15 on Wednesday. Align Technology has a 12 month low of $176.34 and a 12 month high of $335.40. The stock has a 50 day moving average of $234.20 and a two-hundred day moving average of $254.75. The firm has a market cap of $16.50 billion, a P/E ratio of 36.10, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64.

Insider Activity at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the acquisition, the director now owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.62% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Robert W. Baird cut their price objective on Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Needham & Company LLC started coverage on Align Technology in a research report on Thursday, October 10th. They issued a “hold” rating for the company. Evercore ISI dropped their price target on Align Technology from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Finally, Morgan Stanley dropped their price target on Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $295.00.

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.