Analysts forecast that Align Technology, Inc. (NASDAQ:ALGN) will post $408.25 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Align Technology’s earnings, with the highest sales estimate coming in at $409.44 million and the lowest estimate coming in at $405.10 million. Align Technology posted sales of $310.34 million during the same quarter last year, which suggests a positive year-over-year growth rate of 31.5%. The company is scheduled to report its next earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Align Technology will report full year sales of $408.25 million for the current year, with estimates ranging from $1.81 billion to $1.93 billion. For the next year, analysts expect that the company will report sales of $2.24 billion per share, with estimates ranging from $2.10 billion to $2.35 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Align Technology.

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Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.23. Align Technology had a return on equity of 28.55% and a net margin of 15.71%. The firm had revenue of $421.30 million during the quarter, compared to analysts’ expectations of $395.88 million. During the same period in the prior year, the business earned $0.59 EPS. The company’s revenue for the quarter was up 43.7% compared to the same quarter last year.

Several equities research analysts recently weighed in on ALGN shares. Credit Suisse Group restated an “outperform” rating and set a $276.00 target price (up from $261.00) on shares of Align Technology in a report on Tuesday, November 28th. ValuEngine upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Vetr cut Align Technology from a “strong-buy” rating to a “buy” rating and set a $302.42 target price for the company. in a report on Monday, March 12th. Deutsche Bank started coverage on Align Technology in a report on Friday, December 8th. They set a “hold” rating and a $250.00 target price for the company. Finally, Leerink Swann increased their target price on Align Technology from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Align Technology has an average rating of “Buy” and an average target price of $263.56.

Align Technology (NASDAQ ALGN) traded down $2.46 on Wednesday, hitting $270.41. The stock had a trading volume of 792,775 shares, compared to its average volume of 845,357. The stock has a market cap of $21,866.50, a PE ratio of 95.21, a P/E/G ratio of 2.06 and a beta of 1.44. Align Technology has a 1 year low of $110.25 and a 1 year high of $287.32.

In other Align Technology news, insider Joseph M. Hogan purchased 1,500 shares of the stock in a transaction on Tuesday, February 13th. The stock was acquired at an average price of $233.63 per share, with a total value of $350,445.00. Following the transaction, the insider now directly owns 42,984 shares of the company’s stock, valued at approximately $10,042,351.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Emory Wright sold 45,780 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $260.08, for a total value of $11,906,462.40. Following the transaction, the vice president now directly owns 29,957 shares of the company’s stock, valued at approximately $7,791,216.56. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Align Technology by 2.6% during the 4th quarter. BlackRock Inc. now owns 5,153,023 shares of the medical equipment provider’s stock valued at $1,144,948,000 after purchasing an additional 130,189 shares during the last quarter. Renaissance Technologies LLC raised its position in Align Technology by 28.3% during the 4th quarter. Renaissance Technologies LLC now owns 2,614,100 shares of the medical equipment provider’s stock valued at $580,827,000 after purchasing an additional 576,900 shares during the last quarter. Bank of New York Mellon Corp raised its position in 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 valued at $362,499,000 after purchasing an additional 42,570 shares during the last quarter. Janus Henderson Group PLC raised its position in Align Technology by 26.6% during the 3rd quarter. Janus Henderson Group PLC now owns 752,014 shares of the medical equipment provider’s stock valued at $140,077,000 after purchasing an additional 157,890 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Align Technology by 5.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 719,411 shares of the medical equipment provider’s stock valued at $159,846,000 after purchasing an additional 37,900 shares during the last quarter. 80.60% of the stock is owned by institutional investors and hedge funds.

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About Align Technology

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

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