Align Technology (ALGN) was Initiated by Credit Suisse to “Outperform” and the brokerage firm has set the Price Target at $84. Credit Suisse advised their investors in a research report released on May 11, 2016.
On the company’s financial health, Align Technology reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.41. The company had revenue of $238.70 million for the quarter, compared to analysts expectations of $236.87 million. The company’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
Align Technology opened for trading at $76.3 and hit $77.09 on the upside on Tuesday, eventually ending the session at $76.56, with a gain of 1.30% or 0.98 points. The heightened volatility saw the trading volume jump to 7,31,536 shares. Company has a market cap of $6,139 M.
In a different news, on May 6, 2016, C Raymond Jr Larkin (director) sold 15,000 shares at $74.36 per share price. According to the SEC, on May 5, 2016, Warren S Thaler (director) sold 7,700 shares at $74.49 per share price. On May 5, 2016, Roger E George (VP, Legal Affairs & GC) sold 27,311 shares at $75.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Align Technology Inc. (Align) is a medical device company. The Company 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 for dentistry orthodontics and dental records storage. The Company operates through two segments: Clear Aligner known as the Invisalign system and Scanners and Services known as the iTero intraoral scanner and OrthoCAD services. The Company’s Clear Aligner segment provides malocclusion and orthodontic treatment. The Company’s Scanners and Services Segment offers iTero intraoral scanner which utilizes laser and optical scanning to capture the contours of the patient’s dentition gingival structures and the bite. It distributes products directly to customers including orthodontists and general practitioner dentists (GPs) as well as to restorative dentists including prosthodontists periodontists and oral surgeons.