Revenue Update on Align Technology(NASDAQ:ALGN)

Align Technology(NASDAQ:ALGN) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $269.36M. Analysts estimated a revenue of $259.09M. Earnings per share were $0.62. Analysts had estimated an EPS of $0.48.

In a different note, Credit Suisse said it Initiates Coverage on Align Technology, according to a research note issued on May 11, 2016. The shares have been rated ‘Outperform’ by the firm.

Align Technology (ALGN) shares turned negative on Thursdays trading session with the shares closing down -0.23 points or -0.25% at a volume of 11,30,860. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $92.4. The peak price level was also seen at $92.4 while the days lowest was $90.68. Finally the shares closed at $91.72. The 52-week high of the shares is $92.4 while the 52-week low is $52.01. According to the latest information available, the market cap of the company is $7,355 M.

Several Insider Transactions has been reported to the SEC. On May 24, 2016, George J Morrow (director) sold 50,000 shares at $77.71 per share price.Also, 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.

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