Analysts expect Align Technology, Inc. (NASDAQ:ALGN) to report earnings of $1.07 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Align Technology’s earnings, with the lowest EPS estimate coming in at $1.03 and the highest estimate coming in at $1.14. Align Technology reported earnings per share of $0.85 in the same quarter last year, which would suggest a positive year over year growth rate of 25.9%. The company is scheduled to report its next quarterly earnings report on Thursday, July 26th.
On average, analysts expect that Align Technology will report full-year earnings of $4.73 per share for the current fiscal year, with EPS estimates ranging from $4.63 to $4.95. For the next financial year, analysts forecast that the firm will post earnings of $6.08 per share, with EPS estimates ranging from $5.74 to $6.66. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Align Technology.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, April 25th. The medical equipment provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.19. Align Technology had a return on equity of 30.36% and a net margin of 16.12%. The business had revenue of $436.92 million during the quarter, compared to analysts’ expectations of $408.27 million. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The business’s revenue was up 40.8% compared to the same quarter last year.
A number of equities analysts have commented on the company. Leerink Swann increased their target price on Align Technology from $305.00 to $360.00 and gave the company an “outperform” rating in a report on Thursday, May 24th. Barclays increased their target price on Align Technology to $410.00 and gave the company an “overweight” rating in a report on Thursday, June 21st. Evercore ISI assumed coverage on Align Technology in a report on Wednesday, May 16th. They set an “outperform” rating and a $340.00 target price for the company. Jefferies Financial Group increased their target price on Align Technology to $350.00 and gave the company a “buy” rating in a report on Thursday, May 24th. Finally, Berenberg Bank assumed coverage on Align Technology in a report on Friday, April 20th. They set a “buy” rating and a $305.00 target price for the company. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $315.79.
Shares of Align Technology stock traded up $10.06 during mid-day trading on Friday, reaching $356.36. 15,528 shares of the stock traded hands, compared to its average volume of 924,942. Align Technology has a fifty-two week low of $148.01 and a fifty-two week high of $371.55. The stock has a market capitalization of $28.31 billion, a P/E ratio of 91.65, a PEG ratio of 2.58 and a beta of 1.55.
In related news, Director Warren S. Thaler sold 3,500 shares of the stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $315.10, for a total value of $1,102,850.00. Following the completion of the sale, the director now owns 47,015 shares of the company’s stock, valued at $14,814,426.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas M. Prescott sold 82,000 shares of the firm’s stock in a transaction on Monday, April 30th. The stock was sold at an average price of $252.75, for a total value of $20,725,500.00. Following the sale, the director now directly owns 222,399 shares of the company’s stock, valued at approximately $56,211,347.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 188,434 shares of company stock valued at $51,437,919. Insiders own 1.40% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in Align Technology during the first quarter worth $100,000. Cornerstone Advisors Inc. increased its stake in Align Technology by 133.7% during the first quarter. Cornerstone Advisors Inc. now owns 437 shares of the medical equipment provider’s stock worth $110,000 after acquiring an additional 250 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in Align Technology during the fourth quarter worth $168,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in Align Technology during the first quarter worth $203,000. Finally, Apriem Advisors acquired a new stake in Align Technology during the first quarter worth $213,000. 78.07% of the stock is owned by institutional investors.
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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