Align Technology (ALGN) to Release Quarterly Earnings on Wednesday

Align Technology (NASDAQ:ALGN) is set to release its earnings data 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.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company posted $1.73 earnings per share. Align Technology’s revenue for the quarter 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 Price Performance

NASDAQ ALGN opened at $219.70 on Monday. Align Technology has a fifty-two week low of $176.34 and a fifty-two week high of $335.40. The stock’s 50-day moving average is $234.57 and its two-hundred day moving average is $252.71. The firm has a market cap of $16.54 billion, a P/E ratio of 36.19, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64.

Analyst Upgrades and Downgrades

ALGN has been the topic of a number of recent analyst reports. Needham & Company LLC started coverage on Align Technology in a research note on Thursday, October 10th. They issued a “hold” rating on the stock. Stifel Nicolaus reduced their price objective on shares of Align Technology from $350.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Evercore ISI lowered their target price on shares of Align Technology from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Finally, Piper Sandler lowered their price target on Align Technology from $315.00 to $285.00 and set an “overweight” rating on the stock in a research report on Thursday. One equities research 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $291.25.

Insiders Place Their Bets

In related news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the transaction, the director now owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.62% of the company’s stock.

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.