Align Technology, Inc. (ALGN) Expected to Post Quarterly Sales of $358.40 Million
Wall Street analysts forecast that Align Technology, Inc. (NASDAQ:ALGN) will announce sales of $358.40 million for the current quarter, according to Zacks. Seven analysts have provided estimates for Align Technology’s earnings, with estimates ranging from $357.45 million to $359.13 million. Align Technology posted sales of $278.59 million in the same quarter last year, which would indicate a positive year over year growth rate of 28.6%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Align Technology will report full-year sales of $358.40 million for the current fiscal year, with estimates ranging from $1.38 billion to $1.43 billion. For the next financial year, analysts expect that the firm will post 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 sell-side research analysts that follow Align Technology.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.12. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The firm had revenue of $356.50 million for the quarter, compared to analysts’ expectations of $343.43 million. During the same quarter in the previous year, the company earned $0.62 earnings per share. The firm’s quarterly revenue was up 32.3% compared to the same quarter last year.
Several analysts have recently commented on the stock. Robert W. Baird reissued a “buy” rating on shares of Align Technology in a research note on Tuesday. Goldman Sachs Group, Inc. (The) increased their price target on shares of Align Technology to $210.00 and gave the company a “buy” rating in a research note on Friday. Piper Jaffray Companies reissued a “buy” rating and set a $200.00 price target on shares of Align Technology in a research note on Monday, September 11th. Leerink Swann reissued an “outperform” rating and set a $199.00 price target (up from $194.00) on shares of Align Technology in a research note on Friday, July 28th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $205.00 price target (up from $200.00) on shares of Align Technology in a research note on Monday, August 7th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $179.82.
Align Technology (ALGN) opened at 184.50 on Friday. The company has a market cap of $14.79 billion, a PE ratio of 63.18 and a beta of 1.55. The firm has a 50 day moving average price of $175.22 and a 200 day moving average price of $143.46. Align Technology has a 12-month low of $83.27 and a 12-month high of $186.10.
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Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC boosted its stake in Align Technology by 36.7% in the first quarter. AQR Capital Management LLC now owns 94,715 shares of the medical equipment provider’s stock valued at $10,865,000 after acquiring an additional 25,422 shares during the last quarter. Stifel Financial Corp boosted its stake in Align Technology by 11.6% in the first quarter. Stifel Financial Corp now owns 75,393 shares of the medical equipment provider’s stock valued at $8,643,000 after acquiring an additional 7,834 shares during the last quarter. Karp Capital Management Corp bought a new position in Align Technology in the first quarter valued at approximately $2,620,000. American Century Companies Inc. boosted its stake 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 acquiring an additional 211,548 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Align Technology in the second quarter valued at approximately $1,768,000. 81.72% of the stock is currently owned by hedge funds and other institutional investors.
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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