Align Technology, Inc. (ALGN) Expected to Post Quarterly Sales of $395.48 Million

Equities analysts predict that Align Technology, Inc. (NASDAQ:ALGN) will report $395.48 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made 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 during the same quarter last year, which suggests a positive year over year growth rate of 34.9%. The business 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 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 expect that the firm will post sales of $1.79 billion per share, with estimates ranging from $1.70 billion to $1.89 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Align Technology.

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

Several brokerages have commented on ALGN. Deutsche Bank began coverage on Align Technology in a report on Friday, December 8th. They set a “hold” rating and a $250.00 target price on the stock. Morgan Stanley lifted their target price on Align Technology from $257.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, November 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. Zacks Investment Research downgraded Align Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, Credit Suisse Group lifted their target price on Align Technology from $175.00 to $209.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $236.23.

In related news, VP Julie Tay sold 3,500 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $253.00, for a total value of $885,500.00. Following the completion of the sale, the vice president now directly owns 12,213 shares of the company’s stock, valued at approximately $3,089,889. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John Morici sold 1,500 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $255.00, for a total value of $382,500.00. Following the completion of the sale, the chief financial officer now directly owns 1,544 shares of the company’s stock, valued at $393,720. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,849 shares of company stock valued at $13,494,348. Corporate insiders own 1.60% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. bought a new stake in Align Technology in the 3rd quarter valued at about $2,875,000. Rhumbline Advisers increased its position in Align Technology by 4.9% in the 3rd quarter. Rhumbline Advisers now owns 150,816 shares of the medical equipment provider’s stock valued at $28,092,000 after buying an additional 7,032 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Align Technology in the 2nd quarter valued at about $454,000. Aperio Group LLC increased its position 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 buying an additional 11,892 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Align Technology in the 3rd quarter valued at about $2,351,000. 82.81% of the stock is owned by institutional investors and hedge funds.

Align Technology (NASDAQ ALGN) traded down $1.24 during midday trading on Monday, hitting $269.46. The company had a trading volume of 1,231,300 shares, compared to its average volume of 1,176,854. Align Technology has a 12 month low of $88.56 and a 12 month high of $273.60. The firm has a market cap of $21,520.00, a P/E ratio of 81.90, a price-to-earnings-growth ratio of 2.11 and a beta of 1.43.

COPYRIGHT VIOLATION NOTICE: This news story was first posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another site, it was illegally stolen and reposted in violation of United States and international copyright laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2018/01/22/align-technology-inc-algn-expected-to-post-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.

Get a free copy of the Zacks research report on Align Technology (ALGN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.

Leave a Reply