Align Technology (ALGN) Issues Q2 2019 Earnings Guidance

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Align Technology (NASDAQ:ALGN) updated its second quarter 2019 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.47-1.54 for the period, compared to the Thomson Reuters consensus estimate of $1.24. The company issued revenue guidance of $590-600 million, compared to the consensus revenue estimate of $592.75 million.

A number of analysts have commented on the company. Zacks Investment Research upgraded Align Technology from a sell rating to a hold rating in a research report on Monday, December 31st. BidaskClub cut Align Technology from a buy rating to a hold rating in a research report on Thursday, April 18th. Guggenheim began coverage on Align Technology in a research report on Wednesday, April 17th. They set a buy rating and a $335.00 target price for the company. Barclays set a $325.00 target price on Align Technology and gave the stock a buy rating in a research report on Thursday, April 11th. Finally, OTR Global cut Align Technology to a positive rating in a research report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $331.07.

Shares of NASDAQ:ALGN traded up $1.00 during trading on Wednesday, hitting $297.08. 1,205,044 shares of the company’s stock were exchanged, compared to its average volume of 1,400,519. Align Technology has a 52-week low of $177.93 and a 52-week high of $398.88. The stock has a market capitalization of $23.21 billion, a P/E ratio of 60.38, a P/E/G ratio of 2.57 and a beta of 2.13.

Align Technology (NASDAQ:ALGN) last released its earnings results on Tuesday, January 29th. The medical equipment provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.04. Align Technology had a return on equity of 33.41% and a net margin of 20.35%. The firm had revenue of $534.02 million during the quarter, compared to analysts’ expectations of $512.03 million. Research analysts predict that Align Technology will post 5.08 EPS for the current year.

In other news, Director Joseph Lacob sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $258.31, for a total value of $5,166,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Julie Tay sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $254.58, for a total value of $318,225.00. Following the completion of the sale, the senior vice president now directly owns 11,926 shares of the company’s stock, valued at $3,036,121.08. The disclosure for this sale can be found here. Insiders have sold 21,650 shares of company stock valued at $5,586,633 in the last quarter. 1.40% of the stock is currently owned by company insiders.

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About Align Technology

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

Further Reading: Stock Split

Earnings History and Estimates for Align Technology (NASDAQ:ALGN)

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