Core Viewpoint - Merit Medical (MMSI) is currently viewed as a better value opportunity compared to Align Technology (ALGN) based on various financial metrics and analyst outlooks [1][3]. Group 1: Zacks Rank and Analyst Outlook - MMSI has a Zacks Rank of 2 (Buy), indicating a positive earnings estimate revision trend, while ALGN has a Zacks Rank of 3 (Hold) [1]. - The improving analyst outlook for MMSI suggests a more favorable investment environment compared to ALGN [3]. Group 2: Valuation Metrics - MMSI has a forward P/E ratio of 23.87, significantly lower than ALGN's forward P/E of 31.20, indicating that MMSI may be undervalued [2]. - The PEG ratio for MMSI is 2.12, while ALGN's PEG ratio is 2.49, suggesting that MMSI offers better value relative to its expected earnings growth [2]. - MMSI's P/B ratio stands at 3.72, compared to ALGN's P/B of 6.22, further supporting the notion that MMSI is a more attractive investment [2]. Group 3: Value Grades - Based on the analysis, MMSI has a Value grade of B, while ALGN has a Value grade of C, reinforcing the conclusion that MMSI is the superior value option at this time [3].

Group 1 - Align Technology's stock initially rose by 15% after reporting Q4 2023 financial results, but later surrendered gains to be up less than 1% [1] - The company generated net revenue of $957 million in Q4 2023, a nearly 7% year-over-year increase, exceeding management's guidance of $920 million to $940 million [2] - Management provided guidance for modest top-line growth and improvement in operating margin for 2024, leading to upgrades from Wall Street analysts [2] Group 2 - Align Technology achieved an 11.5% net profit margin in 2023, indicating strong profitability [3] - The company plans to invest $100 million in 2024 to support manufacturing and has introduced a new, faster, and smaller version of the iTero scanner to attract more doctors [3] - In 2023, Align Technology repurchased 1 million shares and has $650 million remaining in share repurchase authorization [3]

Core Viewpoint - Align Technology, Inc. reported strong fourth-quarter fiscal 2023 results with adjusted earnings per share (EPS) of $2.42, reflecting a 39.9% increase year over year, surpassing the Zacks Consensus Estimate by 11% [1] Financial Performance - Fourth-quarter revenues increased by 6.1% year over year to $956.7 million, exceeding the Zacks Consensus Estimate by 3% [2] - Full-year revenues for 2023 reached $3.86 billion, up 3.4% from 2022, also surpassing the Zacks Consensus Estimate by 0.8% [2] Segment Analysis - Clear Aligner segment revenues rose by 6.9% year over year to $781.9 million, driven by higher average selling prices and non-case revenues, despite lower volumes [3] - Imaging Systems & CAD/CAM Services revenues increased by 2.9% to $174.8 million in the quarter [3] Margins and Expenses - Gross profit for the fourth quarter was $669.5 million, an 8.4% increase year over year, with a gross margin expansion of 146 basis points to 70.0% [4] - Operating income increased by 48.9% to $184.9 million, with an operating margin expansion of 556 basis points to 19.3% [4] Cash Flow and Financial Position - At the end of the fourth quarter, cash and cash equivalents were $937.4 million, down from $1.23 billion at the end of the third quarter [5] - Cumulative net cash provided by operating activities was $785.8 million, up from $738.9 million in the previous quarter [5] Future Guidance - For 2024, Align Technology anticipates mid-single-digit revenue growth compared to 2023, with a Zacks Consensus Estimate of $4.06 billion [6] - The company plans to invest approximately $100 million in capital expenditures for building improvements and manufacturing capacity [6] Strategic Developments - The company gained FDA clearance for the Invisalign Palatal Expander System and launched the new iTero Lumina intraoral scanner, enhancing practice efficiency [7] - Continued focus on international expansion, patient demand, and orthodontist utilization to maintain leadership in digital orthodontics and dentistry [7]

Q4 and Fiscal 2023 Financial Results Align Technology, Inc. January 31, 2024 ©2024 Align Technology Inc. All rights reserved. 1 Q4 and Full Year 2023 Conference Call Details Conference call Speakers: Joe Hogan, President and CEO John Morici, CFO Shirley Stacy, VP, Finance, Investor Relations and Corporate Communications Webcast Archive: ...

Align Technology, Inc. (NASDAQ:ALGN) Q4 2023 Earnings Conference Call January 31, 2024 4:30 PM ET Company Participants Shirley Stacy - VP, Corporate Communications & IR Joseph Hogan - President, CEO & Director John Morici - CFO & EVP, Global Finance Conference Call Participants Elizabeth Anderson - Evercore ISI Jeffrey Johnson - Robert W. Baird & Co. Jonathan Block - Stifel, Nicolaus & Company Jason Bednar - Piper Sandler & Co. Brandon Vazquez - William Blair & Company Nathan Rich - Goldman Sachs Group Mich ...

Core Insights - Align Technology reported revenue of $956.73 million for the quarter ended December 2023, reflecting a 6.1% increase year-over-year [1] - The earnings per share (EPS) was $2.42, up from $1.73 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $928.57 million by 3.03%, while the EPS surpassed the consensus estimate of $2.18 by 11.01% [1] Financial Performance Metrics - Clear Aligner Shipments totaled 593, slightly above the average estimate of 592 from two analysts [2] - Net revenues from Imaging Systems and CAD/CAM Services were $174.81 million, compared to the average estimate of $175.81 million, marking a year-over-year increase of 2.9% [2] - Total Clear Aligner net revenues reached $781.91 million, exceeding the estimated $753 million, representing a year-over-year growth of 6.9% [2] Stock Performance - Align Technology's shares have declined by 1.6% over the past month, while the Zacks S&P 500 composite increased by 3.3% [2] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [2]

Shares of Align Technology Inc. ALGN, +0.97% jumped 14.1% after hours on Wednesday after the company, best known for its Invisalign teeth-alignment system, forecast first-quarter and full-year sales that were above expectations. Align said it expected first-quarter sales of $960 million to $980 million, above the FactSet consensus forecast for $947 million. For the full year, the company expected sales to be “up mid-single digits” year over year, compared with FactSet expectations for around 4% growth. For ...

Core Insights - Align Technology, Inc. has been recognized in the Intellectual Property Owners Association's annual report as one of the top 300 organizations granted U.S. patents, ranking at position 270 with 158 patents granted in 2023, marking a 36% increase from 2022 [1][2] Company Innovations - The patents cover advancements in orthodontics and digital dentistry, including technologies for clear aligners, intraoral scanners, 3D printed orthodontic devices, restorative CAD/CAM software, and AI in treatment planning [2][3] - The iTero™ Lumina intraoral scanner features next-generation digital scanning technology with proprietary Multi-Direct Capture™ technology, offering a 3x wider field of capture, high accuracy, and a maximum capture distance of 25 mm, enhancing the scanning experience [2][3] - Align's first direct 3D printed orthodontic device, the Invisalign® Palatal Expander, provides a safe and effective alternative to traditional devices, eliminating the need for manual adjustments [3] Research and Development - Align has invested approximately $2 billion in R&D over nearly 27 years, focusing on innovations in digital dentistry through advancements in 3D computer modeling, material science, and biomechanics [3] - The recognition as a top patent producer reflects Align's commitment to developing next-generation devices and technologies that meet the needs of healthcare professionals [3] Market Position - Align Technology serves over 256,000 doctor customers and has treated approximately 17 million patients with the Invisalign system, indicating a significant market presence and opportunity [5] - The company aims to enhance digital orthodontic and restorative workflows, improving patient outcomes and practice efficiencies, while accessing a consumer market opportunity of 600 million worldwide [5]

Analysts on Wall Street project that Align Technology (ALGN) will announce quarterly earnings of $2.17 per share in its forthcoming report, representing an increase of 25.4% year over year. Revenues are projected to reach $928.43 million, increasing 3% from the same quarter last year.Over the last 30 days, there has been an upward revision of 1.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial for ...

Align Technology’s (ALGN) macroeconomic issues and currency headwinds continue to dent growth. The stock carries a Zacks Rank #4 (Sell).Align Technology is suffering from the ongoing industry-wide trend of staffing shortages and supply chain-related hazards. Deteriorating international trade, with global inflationary pressure leading to a tough situation related to raw material and labor costs, as well as freight charges and rising interest rates, all have put the dental treatment space (which is highly ele ...