Align Technology (ALGN) to Release Earnings on Wednesday

Align Technology (NASDAQ:ALGN) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $1.98 per share for the quarter. Align Technology has set its Q1 2024 guidance at EPS.Parties that are interested in registering for the company’s 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 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.13. The business had revenue of $956.73 million for the quarter, compared to analysts’ expectations of $928.57 million. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. 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 $300.82 on Tuesday. The stock has a market capitalization of $22.64 billion, a price-to-earnings ratio of 51.69, a PEG ratio of 5.35 and a beta of 1.65. Align Technology has a one year low of $176.34 and a one year high of $413.20. The business’s fifty day moving average is $312.75 and its 200-day moving average is $270.03.

Analysts Set New Price Targets

A number of research firms have recently commented on ALGN. SVB Leerink began coverage on Align Technology in a research note on Monday, February 26th. They set a “market perform” rating and a $310.00 target price on the stock. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. Stifel Nicolaus lifted their target price on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Piper Sandler lifted their target price on Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, March 14th. Finally, UBS Group lifted their target price on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $344.45.

Insider Buying and Selling

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

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.