Analysts Anticipate Align Technology, Inc. (ALGN) Will Post Earnings of $0.83 Per Share

Wall Street analysts predict that Align Technology, Inc. (NASDAQ:ALGN) will announce earnings of $0.83 per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Align Technology’s earnings. The lowest EPS estimate is $0.81 and the highest is $0.84. Align Technology posted earnings of $1.17 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 29.1%. The firm is expected to announce its next earnings results on Wednesday, April 24th.

According to Zacks, analysts expect that Align Technology will report full-year earnings of $5.08 per share for the current year, with EPS estimates ranging from $4.92 to $5.30. For the next fiscal year, analysts anticipate that the business will post earnings of $7.11 per share, with EPS estimates ranging from $6.66 to $7.65. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Align Technology.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Tuesday, January 29th. The medical equipment provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. Align Technology had a net margin of 20.35% and a return on equity of 33.41%. The firm had revenue of $534.02 million for the quarter, compared to analysts’ expectations of $512.03 million.

A number of research firms recently issued reports on ALGN. Zacks Investment Research raised shares of Align Technology from a “sell” rating to a “hold” rating in a research note on Monday, December 31st. OTR Global cut shares of Align Technology to a “positive” rating in a research note on Thursday. ValuEngine cut shares of Align Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Robert W. Baird lifted their price target on shares of Align Technology from $255.00 to $286.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. They noted that the move was a valuation call. Finally, Credit Suisse Group dropped their price target on shares of Align Technology from $277.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $331.59.

Align Technology stock traded up $4.74 during trading on Friday, reaching $252.33. The company had a trading volume of 1,542,894 shares, compared to its average volume of 1,544,602. Align Technology has a 1-year low of $177.93 and a 1-year high of $398.88. The stock has a market capitalization of $20.18 billion, a P/E ratio of 51.29, a P/E/G ratio of 2.29 and a beta of 2.12.

In other Align Technology news, SVP Julie Tay sold 1,250 shares of Align Technology stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $254.58, for a total transaction of $318,225.00. Following the sale, the senior vice president now owns 11,926 shares of the company’s stock, valued at approximately $3,036,121.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Yuval Shaked sold 400 shares of Align Technology stock in a transaction on Monday, February 25th. The stock was sold at an average price of $255.52, for a total transaction of $102,208.00. Following the sale, the director now directly owns 24 shares in the company, valued at approximately $6,132.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,650 shares of company stock worth $5,586,633. 1.40% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ALGN. Robeco Institutional Asset Management B.V. boosted its position in Align Technology by 5.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 89,473 shares of the medical equipment provider’s stock valued at $35,006,000 after acquiring an additional 4,761 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in Align Technology by 8.7% during the third quarter. Gamco Investors INC. ET AL now owns 2,815 shares of the medical equipment provider’s stock valued at $1,101,000 after acquiring an additional 225 shares during the last quarter. Gabelli Funds LLC boosted its position in Align Technology by 30.3% during the third quarter. Gabelli Funds LLC now owns 28,400 shares of the medical equipment provider’s stock valued at $11,111,000 after acquiring an additional 6,600 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Align Technology by 19.3% during the third quarter. Janney Montgomery Scott LLC now owns 13,785 shares of the medical equipment provider’s stock valued at $5,393,000 after acquiring an additional 2,232 shares during the last quarter. Finally, Dupont Capital Management Corp boosted its position in Align Technology by 335.2% during the third quarter. Dupont Capital Management Corp now owns 3,669 shares of the medical equipment provider’s stock valued at $1,435,000 after acquiring an additional 2,826 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Align Technology (NASDAQ:ALGN)

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