Align Technology (ALGN) Posts Quarterly Results
Align Technology (NASDAQ:ALGN) issued its quarterly earnings data on Thursday. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12, StockRatingsNetwork.com reports. The company had revenue of $164.50 million for the quarter, compared to the consensus estimate of $158.64 million.
A number of analysts have recently weighed in on ALGN shares. Analysts at Robert W. Baird downgraded shares of Align Technology from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, October 4th. They now have a $49.00 price target on the stock. They noted that the move was a valuation call. On a related note, analysts at Stifel Nicolaus raised their price target on shares of Align Technology from $46.00 to $54.00 in a research note to investors on Tuesday, September 17th. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Align Technology in a research note to investors on Saturday, July 20th. They now have a $42.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Align Technology presently has an average rating of “Hold” and a consensus target price of $39.62.
Shares of Align Technology (NASDAQ:ALGN) traded up 5.05% during mid-day trading on Thursday, hitting $45.93. The stock had a trading volume of 4,171,324 shares. Align Technology has a 1-year low of $23.45 and a 1-year high of $49.26. The stock has a 50-day moving average of $45.98 and a 200-day moving average of $39.57. The company’s market cap is $3.667 billion.
Align Technology, Inc (NASDAQ:ALGN), designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics, and dental records storage.
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