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Align Technology, Inc. (ALGN)

  • Fri, Jul. 24, 6:54 AM
    • Align Technology (ALGN +0.6%) Q2 results: Revenues: $209.5M (+8.8%); COGS: $50.9M (+8.1%); R&D Expense: $15.7M (+18.0%); SG&A: $100.6M (+20.5%); Operating Income: $42.3M (-13.1%); Net Income: $31.4M (-11.8%); EPS: $0.39 (-9.3%); Quick Assets: $438.5M (-3.6%).
    • Q3 Guidance: Net Revenues: $201.4M - 205.7M; EPS: $0.28 - 0.31; Clear Aligner shipments: 141.8K - 144.3K.
    | Fri, Jul. 24, 6:54 AM | Comment!
  • Thu, Jul. 23, 5:43 PM
    | Thu, Jul. 23, 5:43 PM | 10 Comments
  • Thu, Jul. 23, 4:06 PM
    • Align Technolog (NASDAQ:ALGN): Q2 EPS of $0.39 beats by $0.02.
    • Revenue of $209.5M (+8.8% Y/Y) misses by $0.29M.
    • Press Release
    | Thu, Jul. 23, 4:06 PM | Comment!
  • Wed, Jul. 22, 5:35 PM
  • Wed, Jun. 17, 4:53 PM
    • In a regulatory filing, Align Technology (NASDAQ:ALGN) says the USPTO's agreement to reexamine three of its patents at the request of competitor ClearCorrect is no big deal since it only signals the start of a standard review process based only on ClearCorrect's arguments. Align will have the opportunity to present its side of the matter before a final decision is made.
    • All three patents (6,217,325; 6,722,880, 8,070,487) were previously found to be valid by the Administrative Law Judge and the Commission during an investigation by the Federal Trade Commission. ClearCorrect was found to have infringed on all three.
    • Patent '325 was also found to be valid during the OrthoClear litigation.
    • The pending Federal Court proceedings against ClearCorrect in Houston pertain to nine patents, including seven that are not subject to the current reexamination process.
    • ALGN ended the day down 3%. It is unchanged in after hours trading.
    • Previously: Align -4.6%; USPTO to review patents at rival's request (June 17)
    | Wed, Jun. 17, 4:53 PM | 2 Comments
  • Wed, Jun. 17, 12:32 PM
    • The USPTO has granted a request by Align Technology (NASDAQ:ALGN) rival ClearCorrect to reexamine 3 Align patents related to orthodontic treatments.
    • ClearCorrect adds acceptance of a fourth reexamination request is "expected in due course," and claims its "evidence of unpatentability has been accepted by the USPTO across all challenged patents." ClearCorrect attorney Mark Gilbreth goes as far as to argue Align's patent claims "are all very similar and revolve around a core concept of orthodontic treatment that has existed for more than seven decades."
    • Align has sold off on volume (2.07M shares) that's over 2x a 3-month daily average of 861K. Shares closed yesterday near a 52-week high of $64.99.
    | Wed, Jun. 17, 12:32 PM | 4 Comments
  • Wed, May 6, 12:57 PM
    • The following healthcare-related stocks trade at least 500K shares/day, have a minimum market cap of $1B, show increasing mutual fund ownership, reported an after-tax margin of at least 15% last quarter and reported growth of cash flow from operations at least 50% greater than EPS growth last year:
    • (ABMD -2.6%)(ALGN -0.8%)(AMAG)(EBS +0.7%)(KANG -1.3%)(SHPG -0.3%)(XON +0.8%)
    • This is not a list of Buy recommendations, but rather a targeted list of firms that may be suitable for more in-depth research.
    | Wed, May 6, 12:57 PM | 3 Comments
  • Tue, Apr. 28, 9:32 PM
    • Align Technology (NASDAQ:ALGN) has entered into a $70M accelerated stock repurchase (ASR) deal with Morgan Stanley. The deal is good for repurchasing 1.5% of shares at current levels, and counts towards a $300M, 3-year, buyback launched last year. $100M had already been used as of the end of Q1.
    • The news comes 5 days after the dental hardware/software provider posted a Q1 beat (and rallied in response).
    | Tue, Apr. 28, 9:32 PM | Comment!
  • Thu, Apr. 23, 5:39 PM
    | Thu, Apr. 23, 5:39 PM | Comment!
  • Thu, Apr. 23, 4:10 PM
    • Align Technology (NASDAQ:ALGN) Q1 results ($M): Revenues: 198.1 (+9.7%); Operating Expenses: 102.2 (+7.1%); Net Income: 36.2 (+11.7%); EPS: 0.44 (+12.8%); Quick Assets: 444.8 (-2.2%);
    • Clear Aligner shipments: 130,780 (+3.1%).
    • Q2 Guidance: Net Revenues: $206.6M - 210.4M; EPS: $0.35 - 0.38; Clear Aligner shipments: 139.5K - 142.0K.
    | Thu, Apr. 23, 4:10 PM | Comment!
  • Thu, Apr. 23, 4:04 PM
    • Align Technolog (NASDAQ:ALGN): Q1 EPS of $0.44 beats by $0.12.
    • Revenue of $198.1M (+9.7% Y/Y) beats by $7.27M.
    • Press Release
    | Thu, Apr. 23, 4:04 PM | Comment!
  • Wed, Apr. 22, 5:35 PM
  • Tue, Apr. 21, 9:47 AM
    • Citing accelerating revenue growth and fading patent expiration concerns, Morgan Stanley has upgraded Align Technology (NASDAQ:ALGN) to Overweight ahead of Thursday's Q1 report, and hiked its target by $23 to $79.
    • Align's partnership with Sirona Dental, the growing digitization of dental offices, and rising international penetration are also seen as catalysts. "We believe customer base expansion and digitization will grow both top-line and bottom-line results, and more than offset expected volume and price declines resulting from the entrance of competitors upon patent expirations relative to expectations" International is expected to rise to 46% of 2020 volumes from 30% of 2015 volumes.
    • The upgrade comes less than a month after Align announced a CEO change.
    | Tue, Apr. 21, 9:47 AM | Comment!
  • Tue, Apr. 21, 9:42 AM
    • Bristol-Myers Squibb (BMY +1.3%) upgraded to Overweight with $80 (21% upside) by Morgan Stanley.
    • Align Technology (ALGN +4.6%) upgraded to Overweight with a $79 (46% upside) price target by Morgan Stanley.
    • Biocryst Pharmaceuticals (BCRX +4.5%) upgraded to Neutral with $12 (20% upside) by Bank of America.
    • Rosetta Genomics (ROSG -1%) upgraded to Buy with $5.50 (32% upside) price target by Cantor Fitzgerald.
    • Phibro Animal Health (PAHC -2.7%) downgraded to Underweight with $35 (3% upside) price target by Morgan Stanley.
    • Impax Laboratories (IPXL +0.5%) downgraded to Sell with $36 (28% downside risk) price target by UBS.
    | Tue, Apr. 21, 9:42 AM | Comment!
  • Thu, Mar. 26, 4:34 PM
    • Align Technology (NASDAQ:ALGN) President & CEO Thomas M. Prescott will retire effective June 1. Joseph M. Hogan will succeed him. Mr. Hogan's background includes stints at ABB Ltd. (five years) and GE Healthcare (25 years).
    | Thu, Mar. 26, 4:34 PM | Comment!
  • Thu, Mar. 26, 4:10 PM
    • Thomas M. Prescott, Align Technology's (NASDAQ:ALGN) CEO since 2002, is retiring, effective June 1. He'll remain on the board.
    • Joseph Hogan, most recently the CEO of power equipment giant ABB, will be Align's new CEO, and also join the board. Before joining ABB, Hogan was the CEO of GE Healthcare.
    • Align uses the announcement to state it expects "first quarter Invisalign case volume to be at the high-end to slightly above our guidance range."
    | Thu, Mar. 26, 4:10 PM | Comment!
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Company Description
Align Technology Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and CAD/CAM digital services used in dentistry, orthodontics, and dental records storage.