Why Align Technology Stock Fell 23.6% in July
Shares of Align Technology (NASDAQ: ALGN) dropped 23.6% in July, according to data from S&P Global Market Intelligence, after the orthodontic-device specialist delivered strong second-quarter 2019 results but followed with disappointing forward guidance.
Align plunged 27% on July 25 -- the first trading day after the company told investors its quarterly revenue had climbed 22.5% year over year to $600.7 million, above guidance of $590 million to $600 million. That translated to a net profit of $147.1 million, or $1.83 per share, up more than 40% from $1.30 per share in the same year-ago period and well above estimates for $1.51 per share.
Image source: Align Technology.
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