Brokerages Expect Align Technology, Inc. (ALGN) Will Announce Earnings of $1.16 Per Share

Wall Street brokerages expect Align Technology, Inc. (NASDAQ:ALGN) to announce $1.16 earnings per share for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Align Technology’s earnings. The highest EPS estimate is $1.24 and the lowest is $1.13. Align Technology posted earnings of $1.19 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 2.5%. The company is scheduled to report its next quarterly earnings results on Tuesday, January 29th.

On average, analysts expect that Align Technology will report full year earnings of $4.87 per share for the current year, with EPS estimates ranging from $4.85 to $4.95. For the next financial year, analysts expect that the business will report earnings of $5.88 per share, with EPS estimates ranging from $5.65 to $6.10. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Align Technology.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, October 24th. The medical equipment provider reported $1.24 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $505.30 million during the quarter, compared to the consensus estimate of $503.14 million. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Align Technology’s revenue for the quarter was up 31.1% on a year-over-year basis.

Several equities research analysts have recently weighed in on the stock. Robert W. Baird decreased their target price on shares of Align Technology from $425.00 to $330.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. BidaskClub cut Align Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, October 5th. Stifel Nicolaus dropped their target price on Align Technology from $425.00 to $346.00 and set a “buy” rating on the stock in a report on Thursday, October 25th. Zacks Investment Research cut Align Technology from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Finally, Morgan Stanley dropped their target price on Align Technology from $320.00 to $300.00 and set an “equal weight” rating on the stock in a report on Thursday, October 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $352.20.

Shares of ALGN traded down $9.06 during mid-day trading on Friday, hitting $210.28. 999,188 shares of the company’s stock were exchanged, compared to its average volume of 1,276,854. Align Technology has a fifty-two week low of $188.57 and a fifty-two week high of $398.88. The company has a market capitalization of $17.54 billion, a price-to-earnings ratio of 54.06, a price-to-earnings-growth ratio of 1.91 and a beta of 2.05.

In other Align Technology news, VP Christopher C. Puco sold 8,764 shares of Align Technology stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $227.42, for a total transaction of $1,993,108.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $231.82, for a total transaction of $2,318,200.00. The disclosure for this sale can be found here. Insiders sold 23,764 shares of company stock worth $5,427,059 in the last ninety days. 1.40% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ALGN. Capital Guardian Trust Co. acquired a new position in shares of Align Technology during the third quarter valued at about $110,000. Polaris Greystone Financial Group LLC acquired a new stake in Align Technology during the 3rd quarter valued at $117,000. Centaurus Financial Inc. acquired a new stake in Align Technology during the 2nd quarter valued at $137,000. TRUE Private Wealth Advisors acquired a new stake in Align Technology during the 3rd quarter valued at $198,000. Finally, HPM Partners LLC acquired a new stake in Align Technology during the 3rd quarter valued at $201,000. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Align Technology Company Profile

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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