Align Technology, Inc. to Post FY2017 Earnings of $3.69 Per Share, Leerink Swann Forecasts (ALGN)
Align Technology, Inc. (NASDAQ:ALGN) – Equities research analysts at Leerink Swann boosted their FY2017 earnings per share (EPS) estimates for shares of Align Technology in a note issued to investors on Friday. Leerink Swann analyst R. Newitter now expects that the medical equipment provider will earn $3.69 per share for the year, up from their previous forecast of $3.39. Leerink Swann has a “Outperform” rating and a $250.00 price objective on the stock. Leerink Swann also issued estimates for Align Technology’s Q4 2017 earnings at $0.94 EPS, Q1 2018 earnings at $0.90 EPS, Q2 2018 earnings at $1.02 EPS, Q3 2018 earnings at $1.19 EPS, Q4 2018 earnings at $1.36 EPS, FY2018 earnings at $4.47 EPS and FY2019 earnings at $5.41 EPS.
Align Technology (NASDAQ:ALGN) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.19. The company had revenue of $385.30 million during the quarter, compared to analysts’ expectations of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. Align Technology’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. TRADEMARK VIOLATION WARNING: “Align Technology, Inc. to Post FY2017 Earnings of $3.69 Per Share, Leerink Swann Forecasts (ALGN)” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright laws. The legal version of this article can be read at https://www.americanbankingnews.com/2017/10/30/align-technology-inc-to-post-fy2017-earnings-of-3-69-per-share-leerink-swann-forecasts-algn.html.
ALGN has been the subject of a number of other reports. Zacks Investment Research downgraded Align Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $225.00 price target (up from $205.00) on shares of Align Technology in a report on Thursday, October 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $220.00 price target (up from $195.00) on shares of Align Technology in a report on Friday, October 6th. Northcoast Research reaffirmed a “buy” rating and issued a $230.00 price target (up from $200.00) on shares of Align Technology in a report on Tuesday, October 10th. Finally, Robert W. Baird reaffirmed 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 given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $213.20.
Shares of Align Technology (ALGN) opened at 235.94 on Monday. Align Technology has a 1-year low of $83.30 and a 1-year high of $239.83. The company has a 50-day moving average of $191.12 and a 200-day moving average of $161.09. The firm has a market capitalization of $18.91 billion, a PE ratio of 80.80 and a beta of 1.54.
Hedge funds have recently bought and sold shares of the company. Whittier Trust Co. acquired a new stake in shares of Align Technology in the third quarter valued at approximately $107,000. CENTRAL TRUST Co boosted its holdings in shares of Align Technology by 128.5% in the second quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock valued at $105,000 after acquiring an additional 392 shares during the period. Schroder Investment Management Group acquired a new stake in shares of Align Technology in the second quarter valued at approximately $104,000. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Align Technology by 13.0% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock valued at $137,000 after acquiring an additional 105 shares during the period. Finally, BlueMountain Capital Management LLC acquired a new stake in shares of Align Technology in the second quarter valued at approximately $148,000. 80.96% of the stock is owned by institutional investors and hedge funds.
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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