Brokerages expect Align Technology, Inc. (NASDAQ:ALGN) to post $358.40 million in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for Align Technology’s earnings. The highest sales estimate is $359.13 million and the lowest is $357.45 million. Align Technology posted sales of $278.59 million in the same quarter last year, which suggests a positive year over year growth rate of 28.6%. The firm is scheduled to report its next earnings results on Monday, November 6th.

According to Zacks, analysts expect that Align Technology will report full year sales of $358.40 million for the current year, with estimates ranging from $1.38 billion to $1.43 billion. For the next year, analysts anticipate that the business will report sales of $1.69 billion per share, with estimates ranging from $1.66 billion to $1.79 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Align Technology.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. The company had revenue of $356.50 million during the quarter, compared to analyst estimates of $343.43 million. Align Technology had a net margin of 20.03% and a return on equity of 26.14%. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS.

Several research firms have recently weighed in on ALGN. Stifel Nicolaus reiterated a “buy” rating and issued a $205.00 price target (up previously from $200.00) on shares of Align Technology in a report on Monday. Leerink Swann reiterated an “outperform” rating and issued a $199.00 price target (up previously from $194.00) on shares of Align Technology in a report on Friday, July 28th. Piper Jaffray Companies reiterated a “buy” rating and issued a $176.00 price target on shares of Align Technology in a report on Friday, July 28th. Bank of America Corporation upgraded shares of Align Technology from a “neutral” rating to a “buy” rating and upped their price target for the company from $175.00 to $193.00 in a report on Friday, July 28th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $182.00 price target (up previously from $175.00) on shares of Align Technology in a report on Monday, July 17th. Ten equities research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of $174.40.

Shares of Align Technology (ALGN) opened at 175.77 on Thursday. The firm’s 50 day moving average is $155.86 and its 200-day moving average is $126.81. The firm has a market cap of $14.09 billion, a price-to-earnings ratio of 60.20 and a beta of 1.55. Align Technology has a 52 week low of $83.27 and a 52 week high of $176.44.

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In related news, VP Sreelakshmi Kolli sold 1,000 shares of the stock in a transaction 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 transaction, the vice president now owns 23,785 shares in the company, valued at $3,425,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Lacob sold 3,874 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $143.96, for a total transaction of $557,701.04. The disclosure for this sale can be found here. Insiders have sold 54,874 shares of company stock valued at $7,950,701 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Honkamp Krueger Financial Services Inc. boosted its position in shares of Align Technology by 1.7% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 2,037 shares of the medical equipment provider’s stock valued at $306,000 after buying an additional 34 shares during the last quarter. Intellectus Partners LLC boosted its position in shares of Align Technology by 1.2% in the first quarter. Intellectus Partners LLC now owns 3,498 shares of the medical equipment provider’s stock valued at $401,000 after buying an additional 41 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of Align Technology by 2.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,917 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 52 shares during the last quarter. Buckingham Asset Management LLC boosted its position in shares of Align Technology by 3.3% in the second quarter. Buckingham Asset Management LLC now owns 1,861 shares of the medical equipment provider’s stock valued at $279,000 after buying an additional 59 shares during the last quarter. Finally, Security Asset Management boosted its position in shares of Align Technology by 0.5% in the second quarter. Security Asset Management now owns 12,735 shares of the medical equipment provider’s stock valued at $1,912,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 87.13% of the company’s stock.

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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Earnings History and Estimates for Align Technology (NASDAQ:ALGN)

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