Analysts expect Align Technologies, Inc. (NASDAQ: ALGN - Get Rating) to report earnings of $ 2.30 per share (EPS) for the current fiscal quarter, reports Zacks. Five analysts gave estimates of Align Technology’s earnings, with estimates ranging from $ 1.94 to $ 2.47. Align Technologies reported earnings per share of $ 3.04 in the same quarter last year, indicating a negative growth rate of 24.3% compared to the previous year. The company is due to release its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect Align Technologies to report annual earnings of $ 10.14 per share for the current fiscal year, with EPS estimates ranging from $ 8.70 to $ 11.97. For the next fiscal year, analysts predict that the company will earn $ 12.85 per share, with EPS estimates ranging from $ 10.45 to $ 14.65. Earnings per share of Zacks Investment Research are the average average based on a survey of sales analysts who provide coverage for Align Technology.
Align Technologies (NASDAQ: ALGN - Get Rating) last announced its earnings results on Wednesday, April 27th. The medical equipment supplier reported $ 1.70 EPS for the quarter, analysts ’missing consensus estimates of $ 1.99 for ($ 0.29). The firm had revenue of $ 973.22 million during the quarter, compared to analysts’ estimates of $ 1 billion. Align Technologi had a net margin of 17.51% and a return on equity of 19.90%. During the same quarter last year, the company posted $ 2.51 earnings per share.
ALGN has been the subject of numerous recent research reports. Zacks Investment Research upgraded Align Technologies from a “sales” rating to a “retention” rating and set a target price of $ 454.00 for the company in a research note on Tuesday, March 22nd. Stifel Nicolaus lowered his target price for Align Technologies from $ 575.00 to $ 425.00 in a research note on Thursday, April 28. Morgan Stanley reduced his target price for Align Technology from $ 575.00 to $ 524.00 in a research note on Thursday, April 28. The UBS Group lowered its target price for Align Technologies from $ 620.00 to $ 500.00 and set a “buy” rating for the company in a research note on Tuesday, April 26th. Finally, Credit Suisse Group lowered its target price for Align Technologies from $ 722.00 to $ 418.00 in a research report on Wednesday, May 4. Two stock research analysts rated stocks with a retention rating, and eleven gave a stock purchase rating. According to MarketBeat.com, Align Technology currently has an average Buy rating and consensus target price of $ 578.27.
Shares of NASDAQ ALGN rose $ 9.74 during trading on Friday, reaching $ 284.57. The volume of trading in shares amounted to 953,365 shares, compared to the average volume of 985,329. The company’s 50-day moving average is $ 356.87, and the moving average for two hundred days is $ 486.17. The company has a market capitalization of 22.43 billion dollars, a price-earnings ratio of 32.01, a PEG ratio of 4.37 and a beta ratio of 1.76. Align Technologies has the lowest value in twelve months of $ 250.64 and the highest of $ 737.45.
In related news, Director C Raymond Larkin, Jr. bought 1,000 shares of Align Technology in a transaction on Friday, May 13th. The shares were purchased at an average price of $ 264.42 per share, for a total transaction of $ 264,420.00. Following the completion of the transaction, the director now owns 18,190 shares of the company worth $ 4,809,799.80. The transaction was discovered in the documentation of the Securities and Exchange Commission, which is available via this hyperlink. Also, CEO Joseph M. Hogan bought 6,700 shares of Align Technology in a transaction on Wednesday, May 4. The shares were purchased at an average price of $ 298.48 per share, for a total transaction of $ 1,999,816.00. Following the completion of the transaction, the CEO now directly owns 174,801 shares of the company, valued at approximately $ 52,174,602.48. The discovery of this purchase can be found here. 0.64% of the shares are owned by corporate insiders.
Several hedge funds have recently changed their positions in the company. Harbor Investment Advisors LLC increased its stake in Align Technology shares by 200.0% during the fourth quarter. Harbor Investment Advisors LLC now owns 39 shares of medical equipment vendor shares worth $ 26,000 after buying an additional 26 shares in the last quarter. Tsfg LLC increased its stake in Align Technology by 200.0% during the first quarter. Tsfg LLC now owns 75 shares of the medical equipment supplier worth $ 33,000 after purchasing an additional 50 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new stake in Align Technology during the fourth quarter worth approximately $ 39,000. Clearstead Advisors LLC increased its stake in Align Technology shares by 814.3% during the third quarter. Clearstead Advisors LLC now owns 64 shares of a medical equipment supplier worth $ 43,000 after buying an additional 57 shares during the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in Align Technology during the third quarter worth approximately $ 47,000. Institutional investors own 88.17% of the company’s shares.
About Align Technology (Get a rating)
Align Technologies, Inc., a medical device company, designs, manufactures and sells Invisalign transparent alignments and iTero intraoral scanners and services for orthodontists and general practitioners, as well as restorative and aesthetic dentistry. Works in two segments, Clear Aligner; and scanners and services.
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