Align Technology, Inc. (ALGN) Expected to Announce Quarterly Sales of $395.48 Million
Wall Street analysts expect Align Technology, Inc. (NASDAQ:ALGN) to report $395.48 million in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Align Technology’s earnings, with the lowest sales estimate coming in at $392.50 million and the highest estimate coming in at $397.40 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 business is expected to announce its next earnings report after the market closes on Tuesday, January 30th.
According to Zacks, analysts expect that Align Technology will report full year sales of $395.48 million for the current fiscal year, with estimates ranging from $1.44 billion to $1.45 billion. For the next year, analysts anticipate that the firm will report sales of $1.79 billion per share, with estimates ranging from $1.70 billion to $1.89 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Align Technology.
Align Technology (NASDAQ:ALGN) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.19. The company had revenue of $385.30 million for the quarter, compared to analyst estimates of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The company’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS.
In other Align Technology news, CFO John Morici sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $255.00, for a total transaction of $382,500.00. Following the sale, the chief financial officer now directly owns 1,544 shares in the company, valued at approximately $393,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Julie Tay sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $253.00, for a total transaction of $885,500.00. Following the sale, the vice president now owns 12,213 shares in the company, valued at $3,089,889. The disclosure for this sale can be found here. Insiders have sold a total of 52,849 shares of company stock worth $13,494,348 in the last three months. 1.60% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Whittier Trust Co. acquired a new stake in shares of Align Technology in the third quarter valued at approximately $107,000. 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. raised 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 purchasing an additional 105 shares during the last quarter. BlueMountain Capital Management LLC acquired a new stake in shares of Align Technology in the second quarter valued at approximately $148,000. Finally, Commonwealth Bank of Australia raised its holdings in shares of Align Technology by 10.5% in the second quarter. Commonwealth Bank of Australia now owns 1,129 shares of the medical equipment provider’s stock valued at $169,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 82.89% of the company’s stock.
Shares of Align Technology (NASDAQ:ALGN) traded up $2.10 during midday trading on Friday, hitting $233.30. 1,363,000 shares of the stock traded hands, compared to its average volume of 1,089,067. The company has a market cap of $18,880.00, a price-to-earnings ratio of 70.91, a PEG ratio of 1.81 and a beta of 1.43. Align Technology has a one year low of $88.56 and a one year high of $266.41.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/05/align-technology-inc-algn-expected-to-announce-quarterly-sales-of-395-48-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.