$0.81 Earnings Per Share Expected for Align Technology, Inc. (ALGN) This Quarter
Wall Street analysts forecast that Align Technology, Inc. (NASDAQ:ALGN) will announce $0.81 earnings per share (EPS) for the current quarter, according to Zacks. Seven analysts have made estimates for Align Technology’s earnings, with the lowest EPS estimate coming in at $0.79 and the highest estimate coming in at $0.84. Align Technology posted earnings per share of $0.63 during the same quarter last year, which would indicate a positive year-over-year growth rate of 28.6%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, October 26th.
On average, analysts expect that Align Technology will report full year earnings of $3.41 per share for the current fiscal year, with EPS estimates ranging from $3.33 to $3.56. For the next fiscal year, analysts expect that the firm will post earnings of $4.09 per share, with EPS estimates ranging from $3.79 to $4.37. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Align Technology.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.12. The business had revenue of $356.50 million during the quarter, compared to analyst estimates of $343.43 million. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The firm’s revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 EPS.
A number of research firms recently issued reports on ALGN. Bank of America Corporation upgraded Align Technology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $175.00 to $193.00 in a report on Friday, July 28th. Stifel Nicolaus reiterated a “buy” rating and set a $205.00 price objective (up from $200.00) on shares of Align Technology in a report on Monday, August 7th. Robert W. Baird reiterated a “buy” rating on shares of Align Technology in a report on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) increased their price objective on Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 15th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $220.00 price objective (up from $195.00) on shares of Align Technology in a report on Friday. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $188.80.
Hedge funds have recently bought and sold shares of the business. CENTRAL TRUST Co grew its stake in Align Technology by 128.5% in the second quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock valued at $105,000 after purchasing an additional 392 shares in the last quarter. Schroder Investment Management Group bought a new position in Align Technology in the second quarter valued at approximately $104,000. Bronfman E.L. Rothschild L.P. grew its stake in Align Technology by 13.0% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock valued at $137,000 after purchasing an additional 105 shares in the last quarter. BlueMountain Capital Management LLC bought a new position in Align Technology in the second quarter valued at approximately $148,000. Finally, Trust Co. of Vermont grew its stake in Align Technology by 15.4% in the second quarter. Trust Co. of Vermont now owns 1,010 shares of the medical equipment provider’s stock valued at $152,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 81.57% of the company’s stock.
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Shares of Align Technology (NASDAQ ALGN) traded up 0.23% during midday trading on Tuesday, hitting $187.04. The stock had a trading volume of 1,104,528 shares. Align Technology has a one year low of $83.27 and a one year high of $191.78. The company has a market capitalization of $14.99 billion, a PE ratio of 64.05 and a beta of 1.54. The firm’s 50-day moving average is $181.20 and its 200 day moving average is $152.02.
Align Technology Company Profile
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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