On Tuesday, Align Technology, Inc.’s (NASDAQ: ALGN) ended the last transaction at $368.66 with a change of +1.76 percent or +6.38 points. The daily volume was calculated at volume shares 559,645. The company has a market worth of $29.611B. It holds an average volume of 869,256 shares. In recent session, the stock hit the peak level of $368.80 and touched to lowest level of $361.28.
Align Technology, Inc. (ALGN) recently stated financial results for the second quarter ended June 30, 2018. Invisalign case shipments in the second quarter of 2018 (Q2’18) were 302.7 thousand, up 30.5 percent year-over-year. Americas and International region case shipments were up year-over-year 22.2 percent and 45.4 percent, respectively. Q2’18 Invisalign cases for teenage patients were 78.4 thousand, up 42.1 percent year-over-year. Q2’18 revenues were $490.3M, up 37.5 percent year-over-year and Q2’18 operating income was $122.7M, up 46.8 percent year-over-year resulting in an operating margin of 25.0 percent. Net profit was $106.1M, or $1.30 per diluted share, up $0.45 year-over-year.
Announcements and Highlights
- Recently, Align issued a separate press release announcing that the Company has opened new facilities in Costa Rica to support continued long term growth. The Company hosted a grand opening celebration on Friday, July 20 attended by Costa Rican President Carlos Alvarado Quesada and local government officials. Recently, the Company also reported that it has received Certificate of Medical Device Registration and Certificate of Production from the China Food and Drug Administration (CFDA) to manufacture the iTero Element intraoral scanner in China. Align had before reported in April that it had received authorization from the CFDA to market the iTero Element intraoral scanner in China.
Q2 2018 Company Highlights. During the second quarter Align reported the following:
- The One Mth Invisalign case for the Europe, Middle East and Africa (“EMEA”) region. This is a important milestone for the Company with over 34 thousand Invisalign-trained orthodontists and general dentists in the region and reflects accelerating adoption of Invisalign clear aligner therapy in EMEA.
- Eleven recipients of research grants under the Company’s Yearly Research Award Program. Now in its ninth year of funding, nearly $300,000 has been awarded for 2018 to researchers at universities in the Americas, Europe, and Asia Pacific regions.
- The grand opening of the first Invisalign treatment planning facility in Europe, located in Cologne, Germany. The Cologne facility is one of only three Invisalign treatment planning facilities in the world and reflects the rapid growth and expansion of Align globally. It serves as a training facility for Invisalign doctors within the German-speaking market, providing clinical education and support in local language for doctors in Germany, Austria, Switzerland and Lichtenstein.
- The extension of the Invisalign product family with Invisalign First clear aligners, designed with features specifically for younger patients with early mixed dentition (mixture of primary/baby and permanent teeth). Phase 1 treatment is early interceptive orthodontic treatment for young patients, traditionally done through arch expanders, or partial metal braces, before all permanent teeth have erupted – typically at ages 6 through 10 years. Invisalign First clear aligners are designed specifically to address a broad range of younger patients’ malocclusions, including shorter clinical crowns, management of erupting dentition, and predictable dental arch expansion.
- A new expanded Invisalign product portfolio that includes new options and greater flexibility to treat a broader range of patients. The new Invisalign product portfolio offers doctors more choices by extending desirable features across the entire portfolio and creating new Invisalign Treatment Packages, as well as new options to treat young patients with early mixed dentition. The new end-to-end Invisalign portfolio now includes clear aligner product offerings for almost every patient age group and case complexity to make it easier for doctors to tailor treatment planning to the needs of each exclusive patient.
- The new Invisalign Go product with a more user-friendly iTero digital chairside experience and greater flexibility to treat a wider range of mild to moderate cases such as crowded or gap teeth that require teeth straightening previousto restorative treatments. Invisalign Go also incorporates new data-driven clinical protocols for predictable tooth movement and automated case assessments that leverage over 5.5M Invisalign patients treated to date. These improvements make it easier for dentists to tailor their treatment plans to the individual needs of each patient.
- The commercial availability of Vivera Retainers with Precision Bite Ramps, the first retainers in the market that can be customized to provide additional support after deep bite correction. First introduced in 2014 with Invisalign G5 Innovations, Precision Bite Ramps are designed to disocclude the posterior teeth or “open the bite” for improved efficiency in deep bite Invisalign treatments.
- The expansion of the iTero Element portfolio with the launch of the iTero Element 2 and the iTero Element Flex scanners. These additions build on the existing high precision, full-color imaging and fast scan times of the iTero Element portfolio. The next-generation iTero Element 2 is designed for greater performance with 2X faster start-up and 25 percent faster scan processing time contrast to the iTero Element.
- Regulatory authorization from the China Food and Drug Administration (CFDA) to market the iTero Element intraoral scanner in China.
THIRD QUARTER 2018 Business Outlook
For the third quarter of 2018 (THIRD QUARTER’18), Align provides the following guidance:
- Net revenues in the range of $493M to $503M, up about 28 percent to 31 percent over the same period a year ago
- Invisalign case shipments in the range of 302 thousand to 307 thousand, up about 28 percent to 30 percent over the same period a year ago
- Operating margin in the range of 24.2 percent to 24.9 percent
- Diluted EPS in the range of $1.13 to $1.18.
The Stock latest closing price distance was 3.06 percent up from 50 day simple moving average of $359.37 and was 30.69 percent upbeat from 200 day simple moving average of $299.40. Using moving averages is the easiest way to determine the trend of a security. If the moving average is pointing up, the security is trending higher. If the moving average is pointing down, the security is trending lower.