Align Technology price target raised to $275 after survey at Stifel » 07:0105/2205/22/20
Stifel analyst Jonathan…
Stifel analyst Jonathan Block raised the firm's price target on Align Technology to $275 from $230 after the firm's survey of 62 orthodontists and 39 general dentists who are Invisalign providers concluded with "bullish" findings that suggest that cumulative 2020-2022 Invisalign revenue could be higher than his current estimates. The analyst, who believes that Align is the best positioned dental stock heading into late 2020 and early 2021, keeps a Buy rating on the shares.
Align Technology CFO sells 5.8K shares of common stock » 18:2005/2105/21/20
In a regulatory filing,…
In a regulatory filing, Align Technology disclosed that its CFO John Morici sold 5.8K shares of common stock on May 19th in a total transaction of $1.33M.
|Over a week ago|
ITC judge rules 3Shape infringed on Align Technology's scanner related patents » 15:1305/0105/01/20
Align Technology announced that on April 30, 2020 an Administrative Law Judge with the United States International Trade Commission issued an Initial Determination regarding her investigation of 3Shape A/S, 3Shape Trios A/S, and 3Shape Inc.'s infringement of Align's patents. The ALJ determined that 3Shape infringes 7 of the 9 patent claims asserted by Align, found valid 6 of the 9 claims asserted by Align, and found a violation of Section 337 stemming from 3Shape's infringement of 4 claims in 2 of Align's asserted patents. The ALJ recommended an exclusion order and cease and desist order be entered against 3Shape's unlawful importation. The Initial Determination is now subject to review by the Commissioners at the ITC. Align may file a contingent petition for review of any findings it believes are incorrect. 3Shape may also petition for review of the Initial Determination. The Commission will then decide whether to review portions of or the entire Initial Determination. The claims filed by Align in the U.S. District Court in Delaware alleging infringement of the same patents, remain stayed pending the Final Determination and any related appeals. Align intends to pursue damages and permanent injunctions in the U.S. District Court. Furthermore, Align has asserted an additional 26 patents against 3Shape in 6 U.S. District Court cases.
Align Technology CEO: It was a mixed quarter » 18:2204/3004/30/20
In an interview on…
In an interview on CNBC's Mad Money, Joe Hogan said it was a strong quarter, but fell apart in last two weeks when dental offices shut down. He noted the China order rate is 80%-85% back. Hogan expects a surge in demand when the COVID-19 crises passes. He said the company has recently added employees and expects business to grow 20%-30% per year.
Align Technology price target lowered to $275 from $320 at Credit Suisse » 09:1904/3004/30/20
Credit Suisse analyst…
Credit Suisse analyst Erin Wilson Wright lowered the firm's price target on Align Technology to $275 from $320 and keeps an Outperform rating on the shares. While shares have fallen 21% year to date, the analyst expects shares may edge lower following a disappointing Q1 miss and lack of clarity as it relates to expectations for the balance of 2020, where several factors remain in flux as varying geographies enforce or lift social distancing protocols at a staggered and seemingly unpredictable pace.
Align Technology price target raised to $248 from $225 at Baird » 08:1804/3004/30/20
Baird analyst Jeff…
Baird analyst Jeff Johnson raised the firm's price target on Align Technology to $248 from $225 and keeps an Outperform rating on the shares. The analyst noted its Q1 miss but believes timing issues from as early as February was the cause. He said management is seeing a faster recovery in China and has accelerated the launch of at-home/virtual monitoring tools which he believes will further differentiate the company going forward.
Align Technology price target lowered to $258 from $275 at Piper Sandler » 05:1204/3004/30/20
Piper Sandler analyst…
Piper Sandler analyst Matt O'Brien lowered the firm's price target on Align Technology to $258 from $275 and keeps an Overweight rating on the shares after the company reported Q1 results and provided updates on its business in several geographies. While sales of Invisalign are impacted by the closure of dental offices around the world, Align noted it has begun seeing signs of improvement in various geographies such as China, Taiwan, South Korea, and Germany, O'Brien tells investors in a research note. The analyst believes the next couple of months "are likely to be bumpy," but continues to view Align Technology as a "high quality story."
Align Technology says holding headcount level steady » 16:5804/2904/29/20
Says the company has no…
Says the company has no debt. Says expects to ramp up quickly in recovery. Says added three to six months of inventory to weather the storm when COVID-19 hit China. Says maintained 80% capacity before volumes fell off. Says operations are designed to load balance. Says there is about a three to four week lag between case receipts/orders to case shipments. Says slowing some capital expenditure projects. Comments taken from Q1 earnings conference call.
Align Technology says 2M teen patients have used Invisalign system » 16:4804/2904/29/20
Align Technology announced that 2 million teen patients have now started treatment with the Invisalign system - the most advanced clear aligner system and leading digital approach to orthodontic treatment. The 2 millionth teen patient is one of more than 8 million Invisalign patients of all ages worldwide, reflecting continued preference and adoption for Invisalign treatment by doctors and their patients of all ages. Align reached its first millionth Invisalign teen patient in 2017, 10 years after initially targeting teens, and achieved its 2nd millionth Invisalign milestone only 3 years later, which reflects accelerating adoption globally.
Align Technology withdraws FY20 guidance » 16:0404/2904/29/20
The company said,…
The company said, "Due to the uncertain scope and duration of the pandemic, and uncertain timing of the global recovery and economic normalization, we cannot at this time estimate the future impact on our operations and financial results. Accordingly, we are not providing guidance for the second quarter of fiscal year 2020 and are withdrawing our full year 2020 guidance."