Zacks: Brokerages Anticipate Align Technology, Inc. (ALGN) Will Announce Earnings of $0.96 Per Share
Wall Street brokerages predict that Align Technology, Inc. (NASDAQ:ALGN) will announce earnings of $0.96 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Align Technology’s earnings, with the lowest EPS estimate coming in at $0.93 and the highest estimate coming in at $1.05. Align Technology posted earnings per share of $0.67 during the same quarter last year, which indicates a positive year-over-year growth rate of 43.3%. The company is expected to report its next earnings report on Tuesday, January 30th.
According to Zacks, analysts expect that Align Technology will report full-year earnings of $3.62 per share for the current year, with EPS estimates ranging from $3.38 to $3.76. For the next financial year, analysts anticipate that the firm will post earnings of $4.39 per share, with EPS estimates ranging from $3.81 to $4.71. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Align Technology.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.19. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The business had revenue of $385.30 million during the quarter, compared to the consensus estimate of $359.80 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was up 38.3% compared to the same quarter last year.
Several equities research analysts have recently weighed in on ALGN shares. Piper Jaffray Companies reiterated a “buy” rating and set a $176.00 target price on shares of Align Technology in a research note on Friday, July 28th. Robert W. Baird reiterated a “buy” rating and set a $245.00 target price on shares of Align Technology in a research note on Friday, October 27th. Leerink Swann reiterated an “outperform” rating and set a $250.00 target price on shares of Align Technology in a research note on Friday, October 27th. Morgan Stanley reiterated an “overweight” rating and set a $182.00 target price (up previously from $175.00) on shares of Align Technology in a research note on Monday, July 17th. Finally, Stifel Nicolaus increased their target price on shares of Align Technology from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 23rd. Eleven equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $219.18.
Shares of Align Technology (NASDAQ ALGN) traded up $4.27 on Friday, hitting $253.73. 952,400 shares of the stock traded hands, compared to its average volume of 1,005,870. Align Technology has a twelve month low of $88.56 and a twelve month high of $257.60. The firm has a market capitalization of $20,430.00, a P/E ratio of 73.81, a price-to-earnings-growth ratio of 2.39 and a beta of 1.41.
In other Align Technology news, Director Greg J. Santora sold 7,700 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total value of $1,839,915.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Raphael Pascaud sold 5,400 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $241.88, for a total transaction of $1,306,152.00. Following the completion of the transaction, the chief marketing officer now directly owns 22,228 shares of the company’s stock, valued at $5,376,508.64. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. purchased a new position in Align Technology in the third quarter valued at about $2,875,000. Oppenheimer & Co. Inc. purchased a new position in Align Technology in the second quarter valued at about $1,768,000. Dynamic Technology Lab Private Ltd purchased a new position in Align Technology in the second quarter valued at about $454,000. American Century Companies Inc. increased its holdings in Align Technology by 2,236.0% in the second quarter. American Century Companies Inc. now owns 221,009 shares of the medical equipment provider’s stock valued at $33,178,000 after buying an additional 211,548 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Align Technology by 17.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 90,969 shares of the medical equipment provider’s stock valued at $13,657,000 after buying an additional 13,753 shares in the last quarter. 80.86% of the stock is owned by institutional investors.
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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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