$408.25 Million in Sales Expected for Align Technology, Inc. (ALGN) This Quarter

Equities research analysts expect that Align Technology, Inc. (NASDAQ:ALGN) will post $408.25 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Align Technology’s earnings. The lowest sales estimate is $405.10 million and the highest is $409.44 million. Align Technology reported sales of $310.34 million in the same quarter last year, which indicates a positive year over year growth rate of 31.5%. The firm is scheduled to announce its next quarterly earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Align Technology will report full year sales of $408.25 million for the current financial year, with estimates ranging from $1.81 billion to $1.93 billion. For the next fiscal year, analysts expect that the business will report sales of $2.24 billion per share, with estimates ranging from $2.10 billion to $2.35 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Align Technology.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.23. The company had revenue of $421.30 million during the quarter, compared to analysts’ expectations of $395.88 million. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The firm’s revenue for the quarter was up 43.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 EPS.

Several equities analysts have recently commented on ALGN shares. Robert W. Baird set a $208.00 price target on shares of Align Technology and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $225.00 price target (up previously from $205.00) on shares of Align Technology in a research report on Thursday, October 19th. Leerink Swann reaffirmed an “outperform” rating and set a $250.00 price target on shares of Align Technology in a research report on Friday, October 27th. Credit Suisse Group increased their price target on shares of Align Technology from $175.00 to $209.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Finally, Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price target on the stock in a research report on Monday, October 30th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $258.54.

In other Align Technology news, VP Julie Tay sold 3,500 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $253.00, for a total value of $885,500.00. Following the transaction, the vice president now owns 12,213 shares of the company’s stock, valued at $3,089,889. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Emory Wright sold 45,780 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $260.08, for a total transaction of $11,906,462.40. Following the completion of the transaction, the vice president now directly owns 29,957 shares in the company, valued at approximately $7,791,216.56. The disclosure for this sale can be found here. Insiders sold 85,529 shares of company stock worth $22,254,743 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. USA Mutuals Advisors Inc. acquired a new stake in shares of Align Technology in the fourth quarter valued at approximately $101,000. Whittier Trust Co. acquired a new stake in shares of Align Technology in the third quarter valued at approximately $107,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Align Technology by 166.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the medical equipment provider’s stock valued at $112,000 after purchasing an additional 315 shares during the period. Meritage Portfolio Management acquired a new stake in shares of Align Technology in the fourth quarter valued at approximately $201,000. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Align Technology in the second quarter valued at approximately $202,000. Institutional investors own 82.50% of the company’s stock.

Align Technology (NASDAQ:ALGN) opened at $234.33 on Thursday. Align Technology has a 12-month low of $92.61 and a 12-month high of $287.32. The company has a market cap of $19,358.90, a PE ratio of 82.51, a PEG ratio of 1.84 and a beta of 1.48.

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

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