Analysts Expect Align Technology, Inc. (ALGN) Will Post Quarterly Sales of $395.55 Million

Brokerages expect Align Technology, Inc. (NASDAQ:ALGN) to announce sales of $395.55 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Align Technology’s earnings, with the highest sales estimate coming in at $397.40 million and the lowest estimate coming in at $392.50 million. Align Technology posted sales of $293.20 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 34.9%. The company is scheduled to report its next earnings results on Tuesday, January 30th.

According to Zacks, analysts expect that Align Technology will report full year sales of $395.55 million for the current fiscal year, with estimates ranging from $1.44 billion to $1.45 billion. For the next financial year, analysts forecast that the business will post sales of $1.79 billion per share, with estimates ranging from $1.70 billion to $1.89 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Align Technology.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.19. The firm had revenue of $385.30 million for the quarter, compared to analyst estimates of $359.80 million. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The company’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share.

Several brokerages have recently weighed in on ALGN. Robert W. Baird restated a “buy” rating and issued a $290.00 price objective on shares of Align Technology in a report on Wednesday. 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 research report on Monday, August 7th. Credit Suisse Group lifted their price objective on shares of Align Technology from $175.00 to $209.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Leerink Swann reaffirmed an “outperform” rating and set a $250.00 target price on shares of Align Technology in a report on Friday, October 27th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $200.00 price target on shares of Align Technology in a report on Monday, September 11th. Eleven analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $235.55.

Shares of Align Technology (NASDAQ:ALGN) opened at $260.88 on Friday. The stock has a market capitalization of $20,920.00, a PE ratio of 78.18, a P/E/G ratio of 2.52 and a beta of 1.41. Align Technology has a 12-month low of $88.56 and a 12-month high of $266.41.

In other Align Technology news, VP Emory Wright sold 5,025 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $263.68, for a total value of $1,324,992.00. Following the sale, the vice president now owns 80,762 shares in the company, valued at $21,295,324.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Greg J. Santora sold 7,700 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total transaction of $1,839,915.00. The disclosure for this sale can be found here. Insiders sold a total of 23,125 shares of company stock valued at $5,739,059 over the last quarter. 1.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. purchased a new position in Align Technology in the third quarter valued at approximately $2,875,000. Rhumbline Advisers lifted its holdings in Align Technology by 4.9% in the third quarter. Rhumbline Advisers now owns 150,816 shares of the medical equipment provider’s stock valued at $28,092,000 after acquiring an additional 7,032 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Align Technology during the 2nd quarter worth $1,768,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Align Technology during the 2nd quarter worth $454,000. Finally, Aperio Group LLC raised its stake in Align Technology by 38.5% in the 3rd quarter. Aperio Group LLC now owns 42,818 shares of the medical equipment provider’s stock valued at $7,976,000 after purchasing an additional 11,892 shares during the last quarter. Institutional investors own 83.88% of the company’s stock.

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

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