Jefferies Group Analysts Lift Earnings Estimates for Align Technology, Inc. (ALGN)
Align Technology, Inc. (NASDAQ:ALGN) – Stock analysts at Jefferies Group raised their FY2018 earnings per share estimates for Align Technology in a report issued on Thursday. Jefferies Group analyst B. Couillard now expects that the medical equipment provider will post earnings of $4.45 per share for the year, up from their prior estimate of $4.00. Jefferies Group also issued estimates for Align Technology’s FY2019 earnings at $5.45 EPS.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.19. The business had revenue of $385.30 million for the quarter, compared to analyst estimates of $359.80 million. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The firm’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 EPS. WARNING: This article was originally posted by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/11/14/jefferies-group-analysts-lift-earnings-estimates-for-align-technology-inc-algn.html.
A number of other research analysts have also commented on ALGN. Stifel Nicolaus reissued a “buy” rating and set a $205.00 price objective (up previously from $200.00) on shares of Align Technology in a report on Monday, August 7th. Credit Suisse Group reissued a “positive” rating and set a $261.00 price objective (up previously from $209.00) on shares of Align Technology in a report on Thursday, November 9th. Goldman Sachs Group, Inc. (The) increased their price objective on Align Technology from $185.00 to $210.00 and gave the company a “buy” rating in a report on Friday, September 15th. Robert W. Baird set a $208.00 price objective on Align Technology and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Bank of America Corporation raised Align Technology from a “neutral” rating to a “buy” rating and increased their price objective for the company from $175.00 to $193.00 in a report on Friday, July 28th. Eleven equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $219.18.
Shares of Align Technology (NASDAQ:ALGN) traded up $4.27 during midday trading on Monday, hitting $253.73. The stock had a trading volume of 952,400 shares, compared to its average volume of 1,005,870. The firm has a market cap of $20,430.00, a price-to-earnings ratio of 73.81, a price-to-earnings-growth ratio of 2.39 and a beta of 1.41. Align Technology has a fifty-two week low of $88.56 and a fifty-two week high of $257.60.
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Align Technology by 16.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock worth $1,095,740,000 after purchasing an additional 1,034,254 shares in the last quarter. Polen Capital Management LLC grew its holdings in shares of Align Technology by 6.8% during the 2nd quarter. Polen Capital Management LLC now owns 3,362,570 shares of the medical equipment provider’s stock worth $504,789,000 after purchasing an additional 212,773 shares in the last quarter. State Street Corp grew its holdings in shares of Align Technology by 32.2% during the 2nd quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock worth $471,823,000 after purchasing an additional 765,189 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Align Technology by 2.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,946,097 shares of the medical equipment provider’s stock worth $362,499,000 after purchasing an additional 42,570 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Align Technology by 11.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,587,681 shares of the medical equipment provider’s stock worth $238,343,000 after purchasing an additional 160,881 shares in the last quarter. 80.86% of the stock is currently owned by institutional investors.
In other news, Director Greg J. Santora sold 7,700 shares of Align Technology stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $238.95, for a total transaction of $1,839,915.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Raphael Pascaud sold 5,400 shares of Align Technology stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $241.88, for a total value of $1,306,152.00. Following the sale, the chief marketing officer now directly owns 22,228 shares in the company, valued at approximately $5,376,508.64. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
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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