Analysts Expect Align Technology (ALGN) Will Post Earnings of $0.98 Per Share

Equities analysts predict that Align Technology (NASDAQ:ALGN) will announce earnings of $0.98 per share for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Align Technology’s earnings. The lowest EPS estimate is $0.95 and the highest is $1.03. Align Technology reported earnings per share of $0.85 in the same quarter last year, which suggests a positive year-over-year growth rate of 15.3%. The company is expected to report its next quarterly earnings report after the market closes on Wednesday, April 25th.

On average, analysts expect that Align Technology will report full-year earnings of $4.52 per share for the current fiscal year, with EPS estimates ranging from $4.39 to $4.76. For the next year, analysts expect that the company will report earnings of $5.61 per share, with EPS estimates ranging from $5.21 to $6.45. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Align Technology.

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Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.23. The business had revenue of $421.30 million for the quarter, compared to the consensus estimate of $395.88 million. Align Technology had a return on equity of 28.55% and a net margin of 15.71%. The business’s quarterly revenue was up 43.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 earnings per share.

A number of equities analysts have recently issued reports on ALGN shares. Zacks Investment Research downgraded Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Credit Suisse Group raised Align Technology to a “buy” rating and set a $276.00 price target on the stock in a research report on Thursday, January 4th. Stephens downgraded Align Technology from an “overweight” rating to an “equal weight” rating and set a $230.00 price target on the stock. in a research report on Friday, January 19th. Stifel Nicolaus upped their price target on Align Technology from $265.00 to $295.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Finally, Leerink Swann upped their price target on Align Technology from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $260.49.

In related news, insider Joseph M. Hogan acquired 1,500 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average cost of $233.63 per share, with a total value of $350,445.00. Following the completion of the acquisition, the insider now directly owns 42,984 shares of the company’s stock, valued at $10,042,351.92. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Emory Wright sold 45,780 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $260.08, for a total transaction of $11,906,462.40. Following the sale, the vice president now directly owns 29,957 shares in the company, valued at $7,791,216.56. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. National Pension Service boosted its holdings in Align Technology by 98,968.3% in the fourth quarter. National Pension Service now owns 81,236 shares of the medical equipment provider’s stock valued at $18,050,000 after purchasing an additional 81,154 shares during the last quarter. APG Asset Management N.V. boosted its holdings in Align Technology by 113.1% in the fourth quarter. APG Asset Management N.V. now owns 107,400 shares of the medical equipment provider’s stock valued at $19,873,000 after purchasing an additional 57,000 shares during the last quarter. HWG Holdings LP boosted its holdings in Align Technology by 579.3% in the fourth quarter. HWG Holdings LP now owns 3,057 shares of the medical equipment provider’s stock valued at $679,000 after purchasing an additional 2,607 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in Align Technology by 1,899.1% in the third quarter. Neuberger Berman Group LLC now owns 101,435 shares of the medical equipment provider’s stock valued at $18,894,000 after purchasing an additional 96,361 shares during the last quarter. Finally, Stone Ridge Asset Management LLC purchased a new stake in Align Technology in the fourth quarter valued at $2,479,000. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ALGN stock opened at $261.72 on Friday. The firm has a market cap of $21,138.78, a PE ratio of 67.28, a price-to-earnings-growth ratio of 1.99 and a beta of 1.47. Align Technology has a 12-month low of $113.82 and a 12-month high of $287.32.

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About Align Technology

Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.

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Earnings History and Estimates for Align Technology (NASDAQ:ALGN)

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