Align Technology (NASDAQ:ALGN) announced its quarterly earnings data on Wednesday. The medical equipment provider reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.29, Bloomberg Earnings reports. Align Technology had a return on equity of 28.55% and a net margin of 15.71%. The firm had revenue of $436.92 million for the quarter, compared to analysts’ expectations of $408.27 million. During the same period last year, the business posted $0.59 earnings per share. The firm’s revenue for the quarter was up 40.8% on a year-over-year basis. Align Technology updated its Q2 guidance to $1.02-1.06 EPS.
Shares of ALGN opened at $245.63 on Thursday. The firm has a market cap of $19,207.31, a PE ratio of 61.45, a price-to-earnings-growth ratio of 1.81 and a beta of 1.47. Align Technology has a one year low of $118.45 and a one year high of $287.32.
Several equities research analysts have weighed in on the company. Berenberg Bank assumed coverage on Align Technology in a research report on Friday, April 20th. They issued a “buy” rating and a $305.00 target price on the stock. ValuEngine raised Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research lowered Align Technology from a “buy” rating to a “hold” rating in a research report on Friday, April 20th. Vetr lowered Align Technology from a “strong-buy” rating to a “buy” rating and set a $302.42 target price on the stock. in a research report on Monday, March 12th. Finally, Leerink Swann increased their target price on Align Technology from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $258.28.
In other news, insider Joseph M. Hogan bought 1,500 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were purchased at an average cost of $233.63 per share, with a total value of $350,445.00. Following the completion of the acquisition, the insider now directly owns 42,984 shares in the company, valued at $10,042,351.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Emory Wright sold 45,780 shares of Align Technology stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $260.08, for a total value of $11,906,462.40. Following the transaction, the vice president now directly owns 29,957 shares in the company, valued at $7,791,216.56. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
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Align Technology Company Profile
Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.
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