FY2019 EPS Estimates for Align Technology, Inc. (ALGN) Lifted by Analyst
Align Technology, Inc. (NASDAQ:ALGN) – Research analysts at William Blair increased their FY2019 earnings per share estimates for shares of Align Technology in a note issued to investors on Friday. William Blair analyst J. Kreger now expects that the medical equipment provider will earn $5.11 per share for the year, up from their previous estimate of $4.97. William Blair also issued estimates for Align Technology’s FY2020 earnings at $6.01 EPS.
ALGN has been the subject of several other reports. Morgan Stanley reiterated an “overweight” rating and issued a $175.00 price target on shares of Align Technology in a report on Monday, June 19th. They noted that the move was a valuation call. Leerink Swann upped their price objective on Align Technology from $149.00 to $194.00 and gave the stock an “outperform” rating in a report on Monday, June 26th. Northcoast Research restated a “buy” rating and set a $186.00 price objective (up from $164.00) on shares of Align Technology in a report on Wednesday, June 21st. Robert W. Baird upgraded Align Technology from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $105.00 to $155.00 in a report on Friday, April 28th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $176.00 price target on shares of Align Technology in a report on Friday, July 28th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Align Technology presently has an average rating of “Buy” and an average price target of $174.40.
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Shares of Align Technology (ALGN) opened at 168.61 on Monday. Align Technology has a 1-year low of $83.27 and a 1-year high of $179.76. The firm’s 50-day moving average price is $162.73 and its 200 day moving average price is $132.63. The firm has a market cap of $13.51 billion, a PE ratio of 57.74 and a beta of 1.55.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.73 by $0.12. The firm had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $343.43 million. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The business’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 earnings per share.
In other Align Technology news, Director Joseph Lacob sold 50,000 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $144.98, for a total value of $7,249,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sreelakshmi Kolli sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $144.00, for a total transaction of $144,000.00. Following the completion of the transaction, the vice president now directly owns 23,785 shares of the company’s stock, valued at $3,425,040. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,874 shares of company stock worth $7,950,701. Company insiders own 2.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Align Technology by 16.5% in the second quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock worth $1,095,740,000 after buying an additional 1,034,254 shares during the period. BlackRock Inc. increased its stake in Align Technology by 5,738.0% in the first quarter. BlackRock Inc. now owns 6,640,531 shares of the medical equipment provider’s stock worth $761,737,000 after buying an additional 6,526,784 shares during the period. Polen Capital Management LLC increased its stake in shares of Align Technology by 6.8% in the second quarter. Polen Capital Management LLC now owns 3,362,570 shares of the medical equipment provider’s stock valued at $504,789,000 after buying an additional 212,773 shares during the last quarter. State Street Corp increased its stake in shares of Align Technology by 32.2% in the second quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock valued at $471,823,000 after buying an additional 765,189 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Align Technology by 11.3% in the second quarter. Renaissance Technologies LLC now owns 1,587,681 shares of the medical equipment provider’s stock valued at $238,343,000 after buying an additional 160,881 shares during the last quarter. 88.07% of the stock is owned by institutional investors.
Align Technology Company Profile
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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