Brokers Issue Forecasts for Align Technology, Inc.’s Q1 2019 Earnings (ALGN)

Align Technology, Inc. (NASDAQ:ALGN) – Stock analysts at Leerink Swann issued their Q1 2019 earnings per share (EPS) estimates for shares of Align Technology in a report released on Thursday, January 17th. Leerink Swann analyst R. Newitter anticipates that the medical equipment provider will post earnings of $1.13 per share for the quarter. Leerink Swann also issued estimates for Align Technology’s Q2 2019 earnings at $1.39 EPS, Q3 2019 earnings at $1.54 EPS, Q4 2019 earnings at $1.76 EPS and FY2019 earnings at $5.83 EPS.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.05. Align Technology had a return on equity of 34.09% and a net margin of 16.89%. The company had revenue of $505.30 million for the quarter, compared to analysts’ expectations of $503.14 million. During the same period in the previous year, the firm earned $1.01 EPS. The firm’s revenue was up 31.1% compared to the same quarter last year.

ALGN has been the topic of a number of other reports. BidaskClub cut Align Technology from a “buy” rating to a “hold” rating in a report on Saturday, October 13th. Credit Suisse Group lowered their price target on Align Technology from $375.00 to $343.00 and set an “outperform” rating on the stock in a report on Tuesday, November 20th. Zacks Investment Research cut Align Technology from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. UBS Group began coverage on Align Technology in a report on Thursday. They issued a “buy” rating and a $230.00 price target on the stock. Finally, Morgan Stanley lowered their price target 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. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $339.84.

NASDAQ ALGN opened at $220.09 on Friday. Align Technology has a 12 month low of $177.93 and a 12 month high of $398.88. The company has a market capitalization of $17.01 billion, a P/E ratio of 56.58, a price-to-earnings-growth ratio of 1.55 and a beta of 1.91.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Align Technology by 2.2% during the 3rd quarter. BlackRock Inc. now owns 5,264,644 shares of the medical equipment provider’s stock valued at $2,059,633,000 after purchasing an additional 113,728 shares during the last quarter. FMR LLC increased its position in shares of Align Technology by 6.2% during the 3rd quarter. FMR LLC now owns 1,811,522 shares of the medical equipment provider’s stock valued at $708,704,000 after purchasing an additional 106,012 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in shares of Align Technology by 1.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 938,023 shares of the medical equipment provider’s stock valued at $366,973,000 after purchasing an additional 9,958 shares during the last quarter. Winslow Capital Management LLC increased its position in shares of Align Technology by 30.2% during the 3rd quarter. Winslow Capital Management LLC now owns 564,651 shares of the medical equipment provider’s stock valued at $220,903,000 after purchasing an additional 130,982 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of Align Technology by 22.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 480,391 shares of the medical equipment provider’s stock valued at $187,939,000 after purchasing an additional 88,731 shares during the last quarter. 77.76% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Christopher C. Puco sold 8,764 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $227.42, for a total transaction of $1,993,108.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 23,764 shares of company stock worth $5,427,059. Corporate insiders own 1.40% 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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Earnings History and Estimates for Align Technology (NASDAQ:ALGN)

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