Research Analysts Offer Predictions for Align Technology, Inc.’s Q3 2017 Earnings (ALGN)
Align Technology, Inc. (NASDAQ:ALGN) – Investment analysts at Northcoast Research increased their Q3 2017 earnings per share (EPS) estimates for Align Technology in a research report issued to clients and investors on Tuesday. Northcoast Research analyst E. Snyder now anticipates that the medical equipment provider will earn $0.82 per share for the quarter, up from their prior estimate of $0.81. Northcoast Research has a “Buy” rating and a $230.00 price objective on the stock. Northcoast Research also issued estimates for Align Technology’s FY2017 earnings at $3.42 EPS, Q2 2018 earnings at $1.14 EPS and Q3 2018 earnings at $1.15 EPS.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The company had revenue of $356.50 million during the quarter, compared to analyst estimates of $343.43 million. During the same quarter last year, the firm posted $0.62 earnings per share. The firm’s revenue was up 32.3% on a year-over-year basis. WARNING: “Research Analysts Offer Predictions for Align Technology, Inc.’s Q3 2017 Earnings (ALGN)” was posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/10/11/research-analysts-offer-predictions-for-align-technology-inc-s-q3-2017-earnings-algn.html.
Other equities analysts have also recently issued research reports about the company. Morgan Stanley restated an “overweight” rating and set a $182.00 price objective (up previously from $175.00) on shares of Align Technology in a report on Monday, July 17th. Stifel Nicolaus restated a “buy” rating and set a $205.00 price objective (up previously from $200.00) on shares of Align Technology in a report on Monday, August 7th. Credit Suisse Group restated an “outperform” rating and set a $170.00 price objective (up previously from $140.00) on shares of Align Technology in a report on Thursday, July 13th. Piper Jaffray Companies restated a “buy” rating and set a $176.00 price objective on shares of Align Technology in a report on Friday, July 28th. Finally, Bank of America Corporation upgraded Align Technology from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $175.00 to $193.00 in a report on Friday, July 28th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Align Technology presently has a consensus rating of “Buy” and an average target price of $193.20.
Shares of Align Technology (ALGN) opened at 188.67 on Wednesday. Align Technology has a 52 week low of $83.27 and a 52 week high of $191.78. The stock has a market cap of $15.12 billion, a price-to-earnings ratio of 64.61 and a beta of 1.54. The company has a 50-day moving average price of $182.35 and a 200-day moving average price of $153.70.
Several hedge funds have recently modified their holdings of ALGN. BlackRock Inc. lifted its holdings in shares of Align Technology by 5,738.0% in the 1st quarter. BlackRock Inc. now owns 6,640,531 shares of the medical equipment provider’s stock worth $761,737,000 after buying an additional 6,526,784 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Align Technology by 16.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock worth $1,095,740,000 after buying an additional 1,034,254 shares during the period. State Street Corp lifted its holdings in shares of Align Technology by 32.2% in the 2nd quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock worth $471,823,000 after buying an additional 765,189 shares during the period. Federated Investors Inc. PA lifted its holdings in shares of Align Technology by 794.9% in the 2nd quarter. Federated Investors Inc. PA now owns 685,086 shares of the medical equipment provider’s stock worth $102,846,000 after buying an additional 608,535 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Align Technology by 200.5% in the 2nd quarter. Janus Henderson Group PLC now owns 594,124 shares of the medical equipment provider’s stock worth $89,190,000 after buying an additional 396,426 shares during the period. Institutional investors and hedge funds own 81.56% 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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