Align Technology (ALGN) Set to Announce Quarterly Earnings on Wednesday

Align Technology (NASDAQ:ALGN) will post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Align Technology to post earnings of $1.98 per share for the quarter. Align Technology has set its Q1 2024 guidance at EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Align Technology (NASDAQ:ALGN) last posted its 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 during the quarter, compared to analysts’ expectations 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

ALGN stock opened at $305.10 on Wednesday. The firm’s fifty day moving average is $312.30 and its 200 day moving average is $269.75. The firm has a market cap of $22.96 billion, a PE ratio of 52.42, a P/E/G ratio of 5.67 and a beta of 1.65. Align Technology has a one year low of $176.34 and a one year high of $413.20.

Insider Transactions at Align Technology

In related news, Director Joseph Lacob sold 15,000 shares of the firm’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 completion of the sale, the director now directly owns 131,994 shares in the company, valued at $40,023,220.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction on 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 sale, the director now owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were 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 directly owns 709 shares in the company, valued at approximately $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 in the last quarter. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Align Technology

A number of hedge funds have recently made changes to their positions in ALGN. KB Financial Partners LLC purchased a new stake in shares of Align Technology in the 1st quarter valued at $26,000. Cornerstone Planning Group LLC acquired a new stake in shares of Align Technology during the second quarter worth about $29,000. First Manhattan CO. LLC. boosted its stake in shares of Align Technology by 593.8% in the first quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 95 shares during the period. Belpointe Asset Management LLC increased its stake in Align Technology by 22.2% during the 1st quarter. Belpointe Asset Management LLC now owns 297 shares of the medical equipment provider’s stock worth $99,000 after buying an additional 54 shares during the period. Finally, Chilton Capital Management LLC acquired a new stake in Align Technology during the 1st quarter worth approximately $106,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Piper Sandler boosted their price target on shares of Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. The Goldman Sachs Group increased their price objective on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd. UBS Group upped their price target on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Stifel Nicolaus boosted their price objective on Align Technology from $340.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $339.91.

About Align Technology

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.