$0.96 Earnings Per Share Expected for Align Technology, Inc. (ALGN) This Quarter
Wall Street brokerages predict that Align Technology, Inc. (NASDAQ:ALGN) will announce earnings per share (EPS) of $0.96 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Align Technology’s earnings, with the highest EPS estimate coming in at $1.10 and the lowest estimate coming in at $0.93. Align Technology reported earnings per share of $0.67 during the same quarter last year, which would suggest a positive year-over-year growth rate of 43.3%. The firm is expected to report its next quarterly earnings results after the market closes on Tuesday, January 30th.
According to Zacks, analysts expect that Align Technology will report full-year earnings of $3.67 per share for the current year, with EPS estimates ranging from $3.64 to $3.81. For the next year, analysts anticipate that the business will post earnings of $4.43 per share, with EPS estimates ranging from $4.06 to $4.70. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover 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 analysts’ consensus estimates of $0.82 by $0.19. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The firm had revenue of $385.30 million for the quarter, compared to the consensus estimate of $359.80 million. During the same period in the previous year, the firm posted $0.63 EPS. The business’s quarterly revenue was up 38.3% on a year-over-year basis.
Shares of Align Technology (NASDAQ ALGN) opened at $269.46 on Friday. Align Technology has a fifty-two week low of $88.56 and a fifty-two week high of $273.60. The firm has a market cap of $21,510.00, a PE ratio of 81.90, a PEG ratio of 2.12 and a beta of 1.43.
In related news, Director Greg J. Santora sold 7,700 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total transaction of $1,839,915.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Raphael Pascaud sold 5,400 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $241.88, for a total transaction of $1,306,152.00. Following the transaction, the chief marketing officer now owns 22,228 shares in the company, valued at $5,376,508.64. 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 over the last quarter. 1.60% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of ALGN. Schroder Investment Management Group bought a new position in Align Technology in the 2nd quarter worth about $104,000. Franklin Resources Inc. grew its stake in Align Technology by 39.8% in the 2nd quarter. Franklin Resources Inc. now owns 56,442 shares of the medical equipment provider’s stock worth $8,474,000 after acquiring an additional 16,072 shares in the last quarter. Teachers Advisors LLC grew its stake in Align Technology by 51.5% in the 2nd quarter. Teachers Advisors LLC now owns 106,349 shares of the medical equipment provider’s stock worth $15,965,000 after acquiring an additional 36,152 shares in the last quarter. BlueMountain Capital Management LLC bought a new position in Align Technology in the 2nd quarter worth about $148,000. Finally, Laurion Capital Management LP bought a new position in Align Technology in the 2nd quarter worth about $823,000. Institutional investors and hedge funds own 82.95% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “$0.96 Earnings Per Share Expected for Align Technology, Inc. (ALGN) This Quarter” was published by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark law. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/20/0-96-earnings-per-share-expected-for-align-technology-inc-algn-this-quarter-2.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.