Q4 2018 Earnings Estimate for Align Technology, Inc. (ALGN) Issued By Northcoast Research
Align Technology, Inc. (NASDAQ:ALGN) – Research analysts at Northcoast Research decreased their Q4 2018 earnings estimates for shares of Align Technology in a research note issued on Tuesday. Northcoast Research analyst E. Snyder now forecasts that the medical equipment provider will post earnings per share of $1.23 for the quarter, down from their prior forecast of $1.24. Northcoast Research has a “Buy” rating and a $230.00 price target on the stock.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.73 by $0.12. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The business had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $343.43 million. During the same period in the previous year, the business posted $0.62 EPS. The business’s quarterly revenue was up 32.3% compared to the same quarter last year. ILLEGAL ACTIVITY WARNING: “Q4 2018 Earnings Estimate for Align Technology, Inc. (ALGN) Issued By Northcoast Research” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/10/12/q4-2018-earnings-estimate-for-align-technology-inc-algn-issued-by-northcoast-research.html.
Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 21st. Morgan Stanley reiterated an “overweight” rating and set a $220.00 price objective (up previously from $195.00) on shares of Align Technology in a research report on Friday, October 6th. Leerink Swann lifted their price target on Align Technology from $149.00 to $194.00 and gave the company an “outperform” rating in a report on Monday, June 26th. Goldman Sachs Group, Inc. (The) lifted their price target on Align Technology from $185.00 to $210.00 and gave the company a “buy” rating in a report on Friday, September 15th. Finally, Robert W. Baird restated a “buy” rating on shares of Align Technology in a report on Tuesday, September 12th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $193.20.
Align Technology (NASDAQ ALGN) traded up 0.15% during trading on Thursday, hitting $192.75. 472,743 shares of the company traded hands. Align Technology has a 52-week low of $83.27 and a 52-week high of $194.84. The company’s 50-day moving average is $182.92 and its 200 day moving average is $153.98. The firm has a market cap of $15.45 billion, a price-to-earnings ratio of 66.01 and a beta of 1.54.
Institutional investors and hedge funds have recently modified their holdings of the stock. Navellier & Associates Inc grew its stake in shares of Align Technology by 4.5% in the second quarter. Navellier & Associates Inc now owns 68,761 shares of the medical equipment provider’s stock worth $10,322,000 after purchasing an additional 2,963 shares in the last quarter. Sentry Investment Management LLC acquired a new stake in shares of Align Technology in the second quarter valued at $882,000. Ashford Capital Management Inc. lifted its holdings in shares of Align Technology by 46.9% in the second quarter. Ashford Capital Management Inc. now owns 6,941 shares of the medical equipment provider’s stock valued at $1,042,000 after buying an additional 2,216 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Align Technology by 3,163.1% in the second quarter. Toronto Dominion Bank now owns 25,583 shares of the medical equipment provider’s stock valued at $3,840,000 after buying an additional 24,799 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in shares of Align Technology in the second quarter valued at $470,000. Hedge funds and other institutional investors 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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