Align Technology (ALGN) Scheduled to Post Quarterly 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.Investors interested in registering for the company’s conference call can do so using this link.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.13. The firm had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. 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 Stock Performance

NASDAQ:ALGN opened at $305.10 on Wednesday. The company has a market capitalization of $22.96 billion, a price-to-earnings ratio of 52.42, a PEG ratio of 5.67 and a beta of 1.65. The company has a 50-day moving average of $312.30 and a 200-day moving average of $269.75. Align Technology has a 52 week low of $176.34 and a 52 week high of $413.20.

Insider Activity at Align Technology

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ALGN. KB Financial Partners LLC bought a new position in shares of Align Technology during the first quarter worth $26,000. Cornerstone Planning Group LLC acquired a new stake in Align Technology during the 2nd quarter worth $29,000. First Manhattan CO. LLC. raised its stake in Align Technology by 593.8% during the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 95 shares during the period. Belpointe Asset Management LLC grew its stake in Align Technology by 22.2% in the first quarter. Belpointe Asset Management LLC now owns 297 shares of the medical equipment provider’s stock valued at $99,000 after acquiring an additional 54 shares during the period. Finally, Chilton Capital Management LLC bought a new stake in shares of Align Technology in the first quarter worth about $106,000. Institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

ALGN has been the subject of several analyst reports. Stifel Nicolaus raised their target price on Align Technology from $340.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. SVB Leerink began coverage on Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 price objective for the company. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Piper Sandler lifted their price target on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Finally, The Goldman Sachs Group boosted their price target on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and an average price target of $339.91.

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.