Wall Street brokerages expect that Align Technology, Inc. (NASDAQ:ALGN) will post $408.25 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Align Technology’s earnings. The lowest sales estimate is $405.10 million and the highest is $409.44 million. Align Technology posted sales of $310.34 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 31.5%. The company is expected to issue its next earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Align Technology will report full-year sales of $408.25 million for the current fiscal year, with estimates ranging from $1.81 billion to $1.93 billion. For the next year, analysts anticipate that the company will post sales of $2.24 billion per share, with estimates ranging from $2.10 billion to $2.35 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 issued its earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.23. The business had revenue of $421.30 million for the quarter, compared to the consensus estimate of $395.88 million. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The business’s quarterly revenue was up 43.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 earnings per share.
Shares of Align Technology (NASDAQ ALGN) traded up $2.49 during trading hours on Wednesday, hitting $272.20. 172,754 shares of the stock traded hands, compared to its average volume of 1,207,615. The stock has a market capitalization of $21,610.00, a P/E ratio of 69.87, a price-to-earnings-growth ratio of 2.10 and a beta of 1.44. Align Technology has a 1-year low of $107.12 and a 1-year high of $287.32.
In related news, insider Joseph M. Hogan acquired 1,500 shares of Align Technology stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average price of $233.63 per share, for a total transaction of $350,445.00. Following the completion of the purchase, the insider now directly owns 42,984 shares of the company’s stock, valued at $10,042,351.92. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Emory Wright sold 45,780 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $260.08, for a total transaction of $11,906,462.40. Following the completion of the sale, the vice president now owns 29,957 shares of the company’s stock, valued at approximately $7,791,216.56. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. USA Mutuals Advisors Inc. acquired a new position in Align Technology during the fourth quarter worth about $101,000. Whittier Trust Co. of Nevada Inc. raised its position in Align Technology by 166.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the medical equipment provider’s stock worth $112,000 after acquiring an additional 315 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in Align Technology during the fourth quarter worth about $168,000. Cobblestone Capital Advisors LLC NY acquired a new position in Align Technology during the fourth quarter worth about $200,000. Finally, Meritage Portfolio Management acquired a new position in Align Technology during the fourth quarter worth about $201,000. Hedge funds and other institutional investors own 80.60% of the company’s stock.
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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