Leerink Swann Weighs in on Align Technology, Inc.’s Q1 2018 Earnings (ALGN)

Align Technology, Inc. (NASDAQ:ALGN) – Analysts at Leerink Swann raised their Q1 2018 earnings per share (EPS) estimates for shares of Align Technology in a note issued to investors on Friday. Leerink Swann analyst R. Newitter now expects that the medical equipment provider will post earnings of $0.91 per share for the quarter, up from their prior estimate of $0.90. Leerink Swann has a “Outperform” rating and a $250.00 price objective on the stock. Leerink Swann also issued estimates for Align Technology’s Q2 2018 earnings at $1.05 EPS, FY2018 earnings at $4.49 EPS and FY2019 earnings at $5.64 EPS.

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

A number of other brokerages have also recently issued reports on ALGN. Stephens cut shares of Align Technology from an “overweight” rating to an “equal weight” rating and set a $230.00 price target on the stock. in a research note on Friday. Credit Suisse Group reiterated an “outperform” rating and issued a $276.00 price target (up previously from $261.00) on shares of Align Technology in a research note on Tuesday, November 28th. Robert W. Baird reiterated a “buy” rating and issued a $290.00 price target on shares of Align Technology in a research note on Wednesday, November 29th. Stifel Nicolaus boosted their target price on Align Technology from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, November 21st. Finally, Morgan Stanley boosted their target price on Align Technology from $257.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, November 27th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Align Technology has an average rating of “Buy” and a consensus target price of $236.23.

Align Technology (NASDAQ:ALGN) opened at $269.46 on Monday. The stock has a market cap of $21,604.68, a PE ratio of 81.65, a P/E/G ratio of 2.11 and a beta of 1.43. Align Technology has a one year low of $88.56 and a one year high of $273.60.

In other news, VP Julie Tay sold 3,500 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $253.00, for a total transaction of $885,500.00. Following the completion of the sale, the vice president now owns 12,213 shares of the company’s stock, valued at approximately $3,089,889. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. In the last three months, insiders sold 52,849 shares of company stock valued at $13,494,348. 1.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALGN. Schroder Investment Management Group purchased a new stake in shares of Align Technology during the 2nd quarter valued at about $104,000. Franklin Resources Inc. increased its position in shares of Align Technology by 39.8% during the 2nd quarter. Franklin Resources Inc. now owns 56,442 shares of the medical equipment provider’s stock valued at $8,474,000 after purchasing an additional 16,072 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Align Technology by 51.5% during the 2nd quarter. Teachers Advisors LLC now owns 106,349 shares of the medical equipment provider’s stock valued at $15,965,000 after purchasing an additional 36,152 shares during the last quarter. BlueMountain Capital Management LLC purchased a new stake in shares of Align Technology during the 2nd quarter valued at about $148,000. Finally, Laurion Capital Management LP purchased a new stake in shares of Align Technology during the 2nd quarter valued at about $823,000. 82.81% of the stock is owned by hedge funds and other institutional investors.

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Align Technology Company Profile

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.

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

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