$512.12 Million in Sales Expected for Align Technology, Inc. (ALGN) This Quarter

Equities research analysts predict that Align Technology, Inc. (NASDAQ:ALGN) will post sales of $512.12 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Align Technology’s earnings, with the lowest sales estimate coming in at $510.40 million and the highest estimate coming in at $515.10 million. Align Technology reported sales of $421.32 million in the same quarter last year, which indicates a positive year over year growth rate of 21.6%. The business is expected to announce its next earnings report on Tuesday, January 29th.

On average, analysts expect that Align Technology will report full year sales of $1.95 billion for the current year, with estimates ranging from $1.94 billion to $1.96 billion. For the next fiscal year, analysts anticipate that the business will post sales of $2.37 billion, with estimates ranging from $2.32 billion to $2.43 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Align Technology.

Align Technology (NASDAQ:ALGN) last released 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 business had revenue of $505.30 million during the quarter, compared to analysts’ expectations of $503.14 million. During the same quarter last year, the company earned $1.01 earnings per share. The firm’s revenue was up 31.1% on a year-over-year basis.

ALGN has been the subject of several research reports. Goldman Sachs Group initiated coverage on shares of Align Technology in a research note on Saturday, October 20th. They issued a “buy” rating and a $420.00 target price for the company. BidaskClub cut shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 5th. Morgan Stanley increased their target price on shares of Align Technology from $315.00 to $320.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 9th. Credit Suisse Group dropped their price target on shares of Align Technology from $391.00 to $375.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Finally, ValuEngine lowered shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $352.20.

Shares of NASDAQ ALGN traded up $5.62 during mid-day trading on Friday, hitting $215.72. The company had a trading volume of 1,130,510 shares, compared to its average volume of 2,212,380. Align Technology has a 12 month low of $188.57 and a 12 month high of $398.88. The stock has a market cap of $16.80 billion, a PE ratio of 55.46, a PEG ratio of 1.83 and a beta of 2.00.

In other news, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $382.00, for a total transaction of $3,820,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Simon Beard sold 3,895 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $384.48, for a total transaction of $1,497,549.60. Following the sale, the senior vice president now directly owns 3,577 shares of the company’s stock, valued at approximately $1,375,284.96. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Align Technology by 2.2% during the third quarter. BlackRock Inc. now owns 5,264,644 shares of the medical equipment provider’s stock worth $2,059,633,000 after buying an additional 113,728 shares in the last quarter. FMR LLC increased its holdings in shares of Align Technology by 6.2% in the third 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 in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in shares of Align Technology by 1.1% in the third 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 in the last quarter. Winslow Capital Management LLC increased its holdings in shares of Align Technology by 30.2% in the third 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 in the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Align Technology by 22.7% in the third 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 in the last quarter. 79.50% of the stock is owned by institutional investors.

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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