$0.81 EPS Expected for Align Technology, Inc. (ALGN) This Quarter
Equities research analysts expect Align Technology, Inc. (NASDAQ:ALGN) to report $0.81 earnings per share for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Align Technology’s earnings, with the highest EPS estimate coming in at $0.84 and the lowest estimate coming in at $0.79. Align Technology reported earnings per share of $0.63 during the same quarter last year, which would indicate a positive year over year growth rate of 28.6%. The company is expected to issue 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 financial year, analysts expect that the business will post earnings of $4.12 per share, with EPS estimates ranging from $3.79 to $4.40. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Align Technology.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.12. The business had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $343.43 million. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 EPS.
A number of equities analysts recently issued reports on ALGN shares. Morgan Stanley reissued an “overweight” rating and set a $175.00 price target on shares of Align Technology in a report on Monday, June 19th. They noted that the move was a valuation call. Zacks Investment Research raised Align Technology from a “hold” rating to a “buy” rating and set a $128.00 price target on the stock in a report on Tuesday, April 11th. Credit Suisse Group reissued an “outperform” rating and set a $170.00 price target (up previously from $140.00) on shares of Align Technology in a report on Thursday, July 13th. Robert W. Baird raised Align Technology from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $105.00 to $155.00 in a report on Friday, April 28th. Finally, Northcoast Research reissued a “buy” rating and set a $186.00 price target (up previously from $164.00) on shares of Align Technology in a report on Wednesday, June 21st. Ten analysts have rated the stock with a buy rating, Align Technology presently has an average rating of “Buy” and a consensus price target of $174.40.
Shares of Align Technology (NASDAQ:ALGN) traded down 0.22% during trading on Tuesday, hitting $173.62. The stock had a trading volume of 1,085,584 shares. Align Technology has a 12-month low of $83.27 and a 12-month high of $176.84. The stock’s 50-day moving average is $155.86 and its 200-day moving average is $126.81. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 59.46 and a beta of 1.55.
In other news, VP Sreelakshmi Kolli sold 1,000 shares of Align Technology stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $144.00, for a total transaction of $144,000.00. Following the completion of the sale, the vice president now directly owns 23,785 shares in the company, valued at approximately $3,425,040. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph Lacob sold 50,000 shares of Align Technology stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $144.98, for a total transaction of $7,249,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,874 shares of company stock valued at $7,950,701. 2.00% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of ALGN. CENTRAL TRUST Co increased its stake in Align Technology by 128.5% in the second quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock worth $105,000 after buying an additional 392 shares during the last quarter. Van ECK Associates Corp increased its stake in Align Technology by 6.9% in the first quarter. Van ECK Associates Corp now owns 1,057 shares of the medical equipment provider’s stock worth $121,000 after buying an additional 68 shares during the last quarter. Trust Co. of Vermont increased its stake in Align Technology by 15.4% in the second quarter. Trust Co. of Vermont now owns 1,010 shares of the medical equipment provider’s stock worth $152,000 after buying an additional 135 shares during the last quarter. FNY Partners Fund LP bought a new stake in Align Technology during the first quarter worth about $160,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Align Technology during the first quarter worth about $161,000. Institutional investors own 87.13% 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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