Wall Street brokerages predict that Align Technology, Inc. (NASDAQ:ALGN) will announce earnings per share (EPS) of $0.96 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Align Technology’s earnings, with the highest EPS estimate coming in at $1.10 and the lowest estimate coming in at $0.93. Align Technology reported earnings per share of $0.67 during the same quarter last year, which would suggest a positive year-over-year growth rate of 43.3%. The firm is expected to report its next quarterly earnings results after the market closes on Tuesday, January 30th.
According to Zacks, analysts expect that Align Technology will report full-year earnings of $3.67 per share for the current year, with EPS estimates ranging from $3.64 to $3.81. For the next year, analysts anticipate that the business will post earnings of $4.43 per share, with EPS estimates ranging from $4.06 to $4.70. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Align Technology.
Align Technology (NASDAQ:ALGN) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.19. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The firm had revenue of $385.30 million for the quarter, compared to the consensus estimate of $359.80 million. During the same period in the previous year, the firm posted $0.63 EPS. The business’s quarterly revenue was up 38.3% on a year-over-year basis.
A number of analysts have recently weighed in on the stock. Stephens downgraded shares of Align Technology from an “overweight” rating to an “equal weight” rating and set a $230.00 target price on the stock. in a report on Friday. Credit Suisse Group upgraded shares of Align Technology to a “buy” rating and set a $276.00 target price on the stock in a report on Thursday, January 4th. Zacks Investment Research downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 27th. Deutsche Bank assumed coverage on shares of Align Technology in a report on Friday, December 8th. They issued a “hold” rating and a $250.00 target price on the stock. Finally, Robert W. Baird restated a “buy” rating and issued a $290.00 target price on shares of Align Technology in a report on Wednesday, November 29th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $236.23.
Shares of Align Technology (NASDAQ ALGN) opened at $269.46 on Friday. Align Technology has a fifty-two week low of $88.56 and a fifty-two week high of $273.60. The firm has a market cap of $21,510.00, a PE ratio of 81.90, a PEG ratio of 2.12 and a beta of 1.43.
In related news, Director Greg J. Santora sold 7,700 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total transaction of $1,839,915.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Raphael Pascaud sold 5,400 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $241.88, for a total transaction of $1,306,152.00. Following the transaction, the chief marketing officer now owns 22,228 shares in the company, valued at $5,376,508.64. The disclosure for this sale can be found here. Insiders have sold a total of 52,849 shares of company stock worth $13,494,348 over the last quarter. 1.60% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of ALGN. Schroder Investment Management Group bought a new position in Align Technology in the 2nd quarter worth about $104,000. Franklin Resources Inc. grew its stake in Align Technology by 39.8% in the 2nd quarter. Franklin Resources Inc. now owns 56,442 shares of the medical equipment provider’s stock worth $8,474,000 after acquiring an additional 16,072 shares in the last quarter. Teachers Advisors LLC grew its stake in Align Technology by 51.5% in the 2nd quarter. Teachers Advisors LLC now owns 106,349 shares of the medical equipment provider’s stock worth $15,965,000 after acquiring an additional 36,152 shares in the last quarter. BlueMountain Capital Management LLC bought a new position in Align Technology in the 2nd quarter worth about $148,000. Finally, Laurion Capital Management LP bought a new position in Align Technology in the 2nd quarter worth about $823,000. Institutional investors and hedge funds own 82.95% of the company’s stock.
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About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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