Align Technology (NASDAQ:ALGN) Posts Earnings Results, Misses Estimates By $0.47 EPS

Align Technology (NASDAQ:ALGN) released its quarterly earnings data on Wednesday. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47), Zacks reports. Align Technology had a net margin of 11.15% and a return on equity of 13.99%.

Align Technology Price Performance

NASDAQ:ALGN traded up $1.61 during mid-day trading on Wednesday, reaching $216.36. The stock had a trading volume of 1,205,647 shares, compared to its average volume of 704,516. The stock has a 50-day simple moving average of $222.19 and a two-hundred day simple moving average of $226.22. The stock has a market capitalization of $16.15 billion, a PE ratio of 36.92, a P/E/G ratio of 4.80 and a beta of 1.67. Align Technology has a 12 month low of $196.09 and a 12 month high of $335.40.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Robert W. Baird cut their target price on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Bank of America upped their price objective on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Finally, Mizuho began coverage on shares of Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $271.70.

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.