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.
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.
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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