Shares of Align Technology Inc. rose. up 12% in late trading to top the $ 600 mark for the first time ever after a fourth-quarter sell-off. top analyst estimate.
Benefits for Invisalign direct tooth maker continued to soar amid consumers ’unsustainable desire for self-improvement at the time of the pandemic. Quarterly revenue grew 28% from a year earlier with the number of Invisalign case vessels on top of Wall Street estimates.
Shares of the California-based San Jose company traded as high as $ 609 at 4:28 pm in New York. Investment prospects for clear aligners are let to SmileDirectClub Inc., which rose 5.4%. The company is expected to report quarterly earnings for itself later in the month.
“Align’s strong results show continued dental recovery in the U.S.,” wrote Evercore ISI analyst Elizabeth Anderson. “There is a strong high-income revenue impact, as well as higher-than-expected aligner and scanner revenue for global recovery.”
Investors are expected to listen for full-year guidance on the company’s employment call.