FY2016 Earnings Forecast for Align Technology Inc. Issued By Northcoast Research (ALGN)
Align Technology Inc. (NASDAQ:ALGN) – Stock analysts at Northcoast Research boosted their FY2016 EPS estimates for shares of Align Technology in a research note issued on Wednesday. Northcoast Research analyst E. Snyder now forecasts that the brokerage will post earnings per share of $2.46 for the year, up from their prior estimate of $2.42. Northcoast Research also issued estimates for Align Technology’s Q4 2016 earnings at $0.71 EPS, Q1 2017 earnings at $0.75 EPS, Q2 2017 earnings at $0.75 EPS, Q3 2017 earnings at $0.71 EPS, Q4 2017 earnings at $0.89 EPS and FY2017 earnings at $3.10 EPS.
Several other equities analysts also recently commented on the company. Robert W. Baird downgraded Align Technology from an “outperform” rating to a “neutral” rating and set a $96.00 price objective on the stock. in a research report on Monday, October 3rd. Stifel Nicolaus boosted their target price on Align Technology from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Zacks Investment Research downgraded Align Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 12th. Morgan Stanley set a $114.00 target price on Align Technology and gave the stock a “buy” rating in a research report on Wednesday, October 19th. Finally, Jefferies Group reiterated a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Align Technology in a research report on Tuesday. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $89.82.
Shares of Align Technology (NASDAQ:ALGN) opened at 90.60 on Thursday. The stock has a market cap of $7.25 billion, a PE ratio of 44.20 and a beta of 1.33. Align Technology has a 12-month low of $57.31 and a 12-month high of $96.90. The firm has a 50-day moving average price of $89.66 and a 200 day moving average price of $85.68.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Monday, November 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.11. Align Technology had a return on equity of 21.09% and a net margin of 18.78%. The business earned $278.60 million during the quarter, compared to analysts’ expectations of $271.61 million. During the same quarter last year, the business posted $0.34 EPS. The business’s revenue was up 34.3% on a year-over-year basis.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its position in Align Technology by 10.1% in the second quarter. IFP Advisors Inc now owns 1,260 shares of the company’s stock worth $101,000 after buying an additional 116 shares in the last quarter. Proficio Capital Partners LLC boosted its position in Align Technology by 369.0% in the third quarter. Proficio Capital Partners LLC now owns 1,271 shares of the company’s stock worth $119,000 after buying an additional 1,000 shares in the last quarter. CWM LLC acquired a new position in Align Technology during the second quarter worth approximately $121,000. Advisor Group Inc. acquired a new position in Align Technology during the second quarter worth approximately $128,000. Finally, Mckinley Capital Management LLC Delaware acquired a new position in Align Technology during the second quarter worth approximately $147,000. 87.48% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Jennifer Olson sold 799 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $93.30, for a total transaction of $74,546.70. Following the transaction, the vice president now owns 4,483 shares of the company’s stock, valued at $418,263.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Zelko Relic sold 13,577 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $95.91, for a total value of $1,302,170.07. Following the transaction, the vice president now directly owns 1,375 shares in the company, valued at approximately $131,876.25. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Align Technology Company Profile
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and 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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