Align Technology, Inc. Expected to Post Q4 2018 Earnings of $1.23 Per Share (ALGN)
Align Technology, Inc. (NASDAQ:ALGN) – Investment analysts at Northcoast Research dropped their Q4 2018 EPS estimates for Align Technology in a research note issued to investors on Tuesday. Northcoast Research analyst E. Snyder now expects that the medical equipment provider will post earnings of $1.23 per share for the quarter, down from their previous estimate of $1.24. Northcoast Research currently has a “Buy” rating and a $230.00 target price on the stock.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.12. The firm had revenue of $356.50 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. ILLEGAL ACTIVITY NOTICE: This report was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.thecerbatgem.com/2017/10/13/align-technology-inc-expected-to-post-q4-2018-earnings-of-1-23-per-share-algn.html.
Other equities analysts have also recently issued research reports about the company. Piper Jaffray Companies restated a “buy” rating and set a $176.00 target price on shares of Align Technology in a report on Friday, July 28th. Bank of America Corporation upgraded Align Technology from a “neutral” rating to a “buy” rating and raised their target price for the stock from $175.00 to $193.00 in a report on Friday, July 28th. Stifel Nicolaus restated a “buy” rating and set a $205.00 target price (up previously from $200.00) on shares of Align Technology in a report on Monday, August 7th. Goldman Sachs Group, Inc. (The) raised their target price on Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 15th. Finally, Robert W. Baird restated a “buy” rating on shares of Align Technology in a report on Tuesday, September 12th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $193.20.
Several large investors have recently added to or reduced their stakes in the company. Navellier & Associates Inc lifted its holdings in shares of Align Technology by 4.5% during the 2nd quarter. Navellier & Associates Inc now owns 68,761 shares of the medical equipment provider’s stock valued at $10,322,000 after purchasing an additional 2,963 shares in the last quarter. Sentry Investment Management LLC bought a new position in shares of Align Technology during the 2nd quarter valued at about $882,000. Ashford Capital Management Inc. lifted its holdings in shares of Align Technology by 46.9% during the 2nd quarter. Ashford Capital Management Inc. now owns 6,941 shares of the medical equipment provider’s stock valued at $1,042,000 after purchasing an additional 2,216 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Align Technology by 3,163.1% during the 2nd quarter. Toronto Dominion Bank now owns 25,583 shares of the medical equipment provider’s stock valued at $3,840,000 after purchasing an additional 24,799 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of Align Technology during the 2nd quarter valued at about $470,000. Institutional investors and hedge funds own 81.56% of the company’s stock.
About Align Technology
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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