Zacks: Brokerages Expect Align Technology, Inc. (ALGN) to Post $0.81 EPS
Brokerages predict that Align Technology, Inc. (NASDAQ:ALGN) will announce $0.81 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Align Technology’s earnings. The lowest EPS estimate is $0.79 and the highest is $0.84. Align Technology reported earnings per share of $0.63 in the same quarter last year, which would indicate a positive year over year growth rate of 28.6%. The company is scheduled to announce its next earnings report on Monday, November 6th.
On average, analysts expect that Align Technology will report full year earnings of $3.40 per share for the current year, with EPS estimates ranging from $3.33 to $3.51. For the next fiscal year, analysts forecast that the business will post earnings of $4.12 per share, with EPS estimates ranging from $3.79 to $4.40. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Align Technology.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.73 by $0.12. The business had revenue of $356.50 million for the quarter, compared to analyst estimates of $343.43 million. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. Align Technology’s quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share.
ALGN has been the subject of several recent research reports. Morgan Stanley restated an “overweight” rating and issued a $175.00 price objective on shares of Align Technology in a report on Monday, June 19th. They noted that the move was a valuation call. Credit Suisse Group reiterated an “outperform” rating and set a $170.00 target price (up from $140.00) on shares of Align Technology in a report on Thursday, July 13th. Northcoast Research reissued a “buy” rating and set a $186.00 target price (up previously from $164.00) on shares of Align Technology in a research report on Wednesday, June 21st. Zacks Investment Research downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 21st. Finally, Leerink Swann raised their target price on shares of Align Technology from $149.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, June 26th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $179.82.
Shares of Align Technology (NASDAQ:ALGN) traded down 0.19% during midday trading on Tuesday, reaching $186.86. 80,314 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $179.89 and its 200 day moving average price is $150.45. Align Technology has a 12-month low of $83.27 and a 12-month high of $190.04. The company has a market cap of $14.98 billion, a price-to-earnings ratio of 63.99 and a beta of 1.54.
Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in shares of Align Technology by 16.5% in the 1st quarter. American Century Companies Inc. now owns 9,461 shares of the medical equipment provider’s stock worth $1,085,000 after buying an additional 1,337 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in Align Technology by 40.5% during the first quarter. UBS Asset Management Americas Inc. now owns 182,595 shares of the medical equipment provider’s stock valued at $20,945,000 after acquiring an additional 52,601 shares during the last quarter. Neuberger Berman Group LLC lifted its position in Align Technology by 11.7% during the first quarter. Neuberger Berman Group LLC now owns 4,538 shares of the medical equipment provider’s stock valued at $521,000 after acquiring an additional 474 shares during the last quarter. BB&T Securities LLC purchased a new stake in Align Technology during the first quarter valued at approximately $305,000. Finally, Credit Agricole S A lifted its position in Align Technology by 46.1% during the first quarter. Credit Agricole S A now owns 57,174 shares of the medical equipment provider’s stock valued at $6,558,000 after acquiring an additional 18,029 shares during the last quarter. Institutional investors and hedge funds own 81.57% 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/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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