Align Technology, Inc. (NASDAQ:ALGN) – Equities researchers at William Blair lifted their Q4 2019 earnings per share (EPS) estimates for shares of Align Technology in a research report issued to clients and investors on Monday, November 19th. William Blair analyst J. Kreger now forecasts that the medical equipment provider will post earnings per share of $1.64 for the quarter, up from their prior forecast of $1.56. William Blair currently has a “Outperform” rating on the stock.
A number of other research firms also recently commented on ALGN. BidaskClub raised shares of Align Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 28th. Robert W. Baird upped their price objective on shares of Align Technology from $351.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Barclays reaffirmed a “buy” rating on shares of Align Technology in a research note on Thursday, July 26th. Stifel Nicolaus upped their price objective on shares of Align Technology from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Finally, Credit Suisse Group upped their price objective on shares of Align Technology from $340.00 to $391.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Two investment 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 company. The company has an average rating of “Buy” and an average price target of $352.20.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 earnings per share 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 firm had revenue of $505.30 million during the quarter, compared to the consensus estimate of $503.14 million. During the same quarter in the previous year, the company posted $1.01 EPS. The firm’s revenue for the quarter was up 31.1% on a year-over-year basis.
Large investors have recently modified their holdings of the company. Capital Guardian Trust Co. purchased a new stake in shares of Align Technology during the 3rd quarter worth about $110,000. Polaris Greystone Financial Group LLC purchased a new position in Align Technology in the 3rd quarter worth approximately $117,000. Centaurus Financial Inc. purchased a new position in Align Technology in the 2nd quarter worth approximately $137,000. TRUE Private Wealth Advisors purchased a new position in Align Technology in the 3rd quarter worth approximately $198,000. Finally, HPM Partners LLC purchased a new position in Align Technology in the 3rd quarter worth approximately $201,000. Institutional investors and hedge funds own 79.50% of the company’s stock.
In other news, SVP Simon Beard sold 3,895 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 3,577 shares in the company, valued at approximately $1,375,284.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $382.00, for a total value of $3,820,000.00. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
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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