Align Technology Inc. (ALGN) reported third quarter non-GAAP EPS of $0.27 after the close Thursday, up from $0.25 in the prior year period. The consensus estimate was for EPS of $0.19. Fourth quarter non-GAAP EPS is expected to be between $0.20 and $0.22. The consensus estimate is for EPS of $0.19. The company also announced that its Board of Directors authorized a stock repurchase program of up to $150 million.
Align Technology gapped open sharply higher Friday and rose until the middle of the morning. The stock finished up by 5.84 at $23.65 on the highest volume of the year. Align Technology climbed to a 3-month high and re-crossed its 200-day moving average.
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