Finance

Invisalign maker breaks quarterly outlook with bullish action


Invisalign Manufacturer Alignment technology (ALGN) Fourth-quarter results beat expectations Wednesday night, sending ALGN stock back toward its 200-day moving average.




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In the fourth quarter of last year, the maker of clear teeth straightening equipment’s sales plunged 6% to $956.7 million, beating estimates of $933.7 million, according to FactSet. Adjusted profit was $2.42 per share, up 13% and above expectations of $2.18.

Align expects total sales to grow by a mid-single-digit percentage in 2024. Analysts who cover ALGN stock estimate sales of $4.02 billion, up 4%.

in after-hours trading Today’s stock marketALGN shares rose more than 10% to 294.40.The stock exceeded 200 day line According to reports, for the first time since December last year MarketSmith.com.

Follow Allison Gatlin on X (formerly Twitter) at @IBD_AGatlin.

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