Align Technology, Inc. (ALGN) to Release Quarterly Earnings on Thursday
Align Technology, Inc. (NASDAQ:ALGN) is scheduled to announce its earnings results after the market closes on Thursday, July 27th. Analysts expect the company to announce earnings of $0.73 per share for the quarter.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.18. Align Technology had a net margin of 18.98% and a return on equity of 22.95%. The company had revenue of $310.34 million for the quarter, compared to analysts’ expectations of $297.46 million. During the same quarter in the previous year, the business posted $0.50 earnings per share. Align Technology’s quarterly revenue was up 30.0% on a year-over-year basis. On average, analysts expect Align Technology to post $3.26 EPS for the current fiscal year and $3.91 EPS for the next fiscal year.
Shares of Align Technology, Inc. (ALGN) opened at 159.28 on Thursday. Align Technology, Inc. has a 12 month low of $82.31 and a 12 month high of $159.45. The company has a 50-day moving average of $149.92 and a 200 day moving average of $121.48. The company has a market cap of $12.80 billion, a PE ratio of 59.43 and a beta of 1.53.
In other Align Technology news, VP Sreelakshmi Kolli sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $144.00, for a total value of $144,000.00. Following the sale, the vice president now owns 23,785 shares of the company’s stock, valued at $3,425,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 3,874 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $143.96, for a total value of $557,701.04. The disclosure for this sale can be found here. Insiders sold 54,874 shares of company stock worth $7,950,701 in the last three months. 2.00% of the stock is owned by corporate insiders.
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A number of brokerages recently weighed in on ALGN. Stifel Nicolaus reaffirmed a “buy” rating and set a $200.00 price objective (up previously from $145.00) on shares of Align Technology in a report on Friday, June 23rd. Northcoast Research reaffirmed a “buy” rating and set a $186.00 price objective (up previously from $164.00) on shares of Align Technology in a report on Wednesday, June 21st. Jefferies Group LLC reaffirmed a “buy” rating and set a $150.00 price objective on shares of Align Technology in a report on Thursday, June 1st. Zacks Investment Research raised Align Technology from a “hold” rating to a “buy” rating and set a $128.00 price objective on the stock in a report on Tuesday, April 11th. Finally, Robert W. Baird raised 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. Eight investment analysts have rated the stock with a buy rating, Align Technology has a consensus rating of “Buy” and an average price target of $170.63.
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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