Align Technology (ALGN) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.62 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. Analysts had a consensus of $0.48. The company posted revenue of $269.40 million in the period, compared to analysts expectations of $258.76 million. The company’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.
Many Wall Street Analysts have commented on Align Technology. Credit Suisse Initiated Align Technology on May 11, 2016 to “Outperform”, Price Target of the shares are set at $84.
Align Technology opened for trading at $85.36 and hit $86.2 on the upside on Thursday, eventually ending the session at $85.28, with a gain of 0.15% or 0.13 points. The heightened volatility saw the trading volume jump to 10,66,795 shares. Company has a market cap of $6,838 M.
In a different news, on May 24, 2016, George J Morrow (director) sold 50,000 shares at $77.71 per share price. According to the SEC, on May 17, 2016, Raphael Pascaud (VP, International) sold 3,000 shares at $77.00 per share price. On May 11, 2016, Julie Tay (VP, Asia Pacific) sold 1,250 shares at $77.00 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.