Wall Street analysts expect Align Technology, Inc. (NASDAQ:ALGN) to announce $1.16 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Align Technology’s earnings. The lowest EPS estimate is $1.13 and the highest is $1.24. Align Technology reported earnings of $1.19 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.5%. The company is expected to issue its next quarterly earnings report on Tuesday, January 29th.
On average, analysts expect that Align Technology will report full-year earnings of $4.87 per share for the current financial year, with EPS estimates ranging from $4.85 to $4.95. For the next financial year, analysts forecast that the business will post earnings of $5.88 per share, with EPS estimates ranging from $5.65 to $6.10. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Align Technology.
Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.05. Align Technology had a net margin of 16.89% and a return on equity of 34.09%. The firm had revenue of $505.30 million during the quarter, compared to the consensus estimate of $503.14 million. During the same quarter last year, the firm earned $1.01 EPS. The firm’s revenue for the quarter was up 31.1% on a year-over-year basis.
Several analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Align Technology from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Robert W. Baird dropped their target price on shares of Align Technology from $425.00 to $330.00 and set an “outperform” rating for the company in a report on Thursday, October 25th. BidaskClub downgraded shares of Align Technology from a “hold” rating to a “sell” rating in a report on Saturday, October 27th. Credit Suisse Group dropped their target price on shares of Align Technology from $375.00 to $343.00 and set an “outperform” rating for the company in a report on Tuesday, November 20th. Finally, Morgan Stanley dropped their target price on shares of Align Technology from $320.00 to $300.00 and set an “equal weight” rating for the company in a report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $352.20.
In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $231.82, for a total value of $2,318,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sreelakshmi Kolli sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $223.15, for a total transaction of $1,115,750.00. Following the completion of the transaction, the senior vice president now owns 27,180 shares of the company’s stock, valued at approximately $6,065,217. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,764 shares of company stock valued at $5,427,059. Insiders own 1.40% of the company’s stock.
Several large investors have recently bought and sold shares of ALGN. Sigma Planning Corp grew its stake in shares of Align Technology by 9.8% during the second quarter. Sigma Planning Corp now owns 1,527 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 136 shares in the last quarter. Lido Advisors LLC grew its stake in shares of Align Technology by 15.9% during the second quarter. Lido Advisors LLC now owns 1,091 shares of the medical equipment provider’s stock worth $373,000 after purchasing an additional 150 shares in the last quarter. Brighton Jones LLC lifted its position in Align Technology by 5.5% in the second quarter. Brighton Jones LLC now owns 2,898 shares of the medical equipment provider’s stock valued at $992,000 after acquiring an additional 151 shares during the last quarter. HL Financial Services LLC lifted its position in Align Technology by 8.0% in the second quarter. HL Financial Services LLC now owns 2,137 shares of the medical equipment provider’s stock valued at $731,000 after acquiring an additional 158 shares during the last quarter. Finally, State Treasurer State of Michigan lifted its position in Align Technology by 0.9% in the second quarter. State Treasurer State of Michigan now owns 21,400 shares of the medical equipment provider’s stock valued at $7,322,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 78.03% of the company’s stock.
Align Technology stock traded down $9.06 during trading on Friday, hitting $210.28. The company had a trading volume of 999,188 shares, compared to its average volume of 1,276,854. Align Technology has a 1-year low of $188.57 and a 1-year high of $398.88. The company has a market capitalization of $17.54 billion, a PE ratio of 54.06, a price-to-earnings-growth ratio of 1.91 and a beta of 2.05.
About Align Technology
Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.
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