Align Technology (ALGN) has big news to share as the quarterly reports reveals great success for the company known to create Invisalign aligners.
The earnings showed $1.28 per share, which was above the Zacks Consensus Estimate of $1.14 per share. To put it into perspective, these numbers increased from just $1.24 per share a year ago.
“Align Technology, which belongs to the Zacks Medical – Dental Supplies industry, posted revenues of $607.34 million for the quarter ended September 2019, surpassing the Zacks Consensus Estimate by 2.51%, claims Zacks Equity Research in a related article. “This compares to year-ago revenues of $505.29 million. The company has topped consensus revenue estimates four times over the last four quarters.”
In addition to revenue, Align Technology’s shares have added about 2% since the beginning of the year. The company must pay close attention to what is next for the stock. Orthodontists throughout the country that have invested in Align have been on a wild ride but are still optimistic about the future.
While predictions can be made to declare what might happen for the company, nothing is definite. By looking at the company’s earnings outlook, this can help investors to measure what direction the stock may be headed.
“Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions,” said Zacks Equity Research. “Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.”
As the success of Align Technology grows larger, it will be interesting to see what future reports reveal for the creators of Invisalign.