Align Technology, Inc. (NASDAQ:ALGN) – Investment analysts at William Blair raised their FY2017 earnings per share estimates for shares of Align Technology in a research report issued to clients and investors on Thursday. William Blair analyst J. Kreger now anticipates that the medical equipment provider will post earnings per share of $3.44 for the year, up from their previous forecast of $3.32. William Blair also issued estimates for Align Technology’s Q4 2017 earnings at $0.93 EPS and FY2018 earnings at $4.20 EPS.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.12. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The firm had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $343.43 million. During the same period last year, the firm posted $0.62 EPS. The business’s revenue was up 32.3% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: “FY2017 Earnings Estimate for Align Technology, Inc. Issued By William Blair (NASDAQ:ALGN)” was originally published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://www.com-unik.info/2017/08/19/fy2017-earnings-estimate-for-align-technology-inc-issued-by-william-blair-nasdaqalgn-updated-updated.html.
Several other brokerages have also recently issued reports on ALGN. Leerink Swann reiterated an “outperform” rating and issued a $199.00 price target (up from $194.00) on shares of Align Technology in a research note on Friday. Piper Jaffray Companies reiterated a “buy” rating and issued a $176.00 price target on shares of Align Technology in a research note on Friday. Bank of America Corp upgraded Align Technology from a “neutral” rating to a “buy” rating and boosted their price target for the company from $175.00 to $193.00 in a research note on Friday. Morgan Stanley reiterated an “overweight” rating and issued a $182.00 price target (up from $175.00) on shares of Align Technology in a research note on Monday, July 17th. Finally, Credit Suisse Group restated an “outperform” rating and set a $170.00 price objective (up from $140.00) on shares of Align Technology in a research report on Thursday, July 13th. Ten equities research analysts have rated the stock with a buy rating, Align Technology has an average rating of “Buy” and an average price target of $173.90.
Align Technology (NASDAQ:ALGN) traded up 2.06% during midday trading on Monday, reaching $170.68. The company had a trading volume of 468,531 shares. The stock has a market cap of $13.69 billion, a P/E ratio of 58.45 and a beta of 1.53. The firm has a 50-day moving average of $152.97 and a 200-day moving average of $125.34. Align Technology has a 12 month low of $83.27 and a 12 month high of $173.79.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Stifel Financial Corp increased its position in shares of Align Technology by 11.6% in the first quarter. Stifel Financial Corp now owns 75,393 shares of the medical equipment provider’s stock valued at $8,643,000 after buying an additional 7,834 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of Align Technology during the first quarter valued at about $2,620,000. AQR Capital Management LLC increased its position in shares of Align Technology by 36.7% in the first quarter. AQR Capital Management LLC now owns 94,715 shares of the medical equipment provider’s stock valued at $10,865,000 after buying an additional 25,422 shares during the period. Profund Advisors LLC increased its position in shares of Align Technology by 6.8% in the first quarter. Profund Advisors LLC now owns 11,547 shares of the medical equipment provider’s stock valued at $1,325,000 after buying an additional 738 shares during the period. Finally, 1st Global Advisors Inc. bought a new position in shares of Align Technology during the first quarter valued at about $205,000. Institutional investors and hedge funds own 87.34% of the company’s stock.
In other Align Technology news, Director Joseph Lacob sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $144.98, for a total transaction of $7,249,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sreelakshmi Kolli sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $144.00, for a total transaction of $144,000.00. Following the transaction, the vice president now owns 23,785 shares of the company’s stock, valued at $3,425,040. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,874 shares of company stock valued at $7,950,701. Company insiders own 2.00% of the company’s stock.
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.
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