Analysts predict that Align Technology, Inc. (NASDAQ:ALGN) will post earnings of $1.17 per share for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Align Technology’s earnings. The highest EPS estimate is $1.32 and the lowest is $1.13. Align Technology posted earnings per share of $1.19 during the same quarter last year, which would indicate a negative year over year growth rate of 1.7%. The company is expected to announce its next earnings results on Tuesday, January 29th.

On average, analysts expect that Align Technology will report full year earnings of $4.90 per share for the current fiscal year, with EPS estimates ranging from $4.85 to $5.00. For the next financial year, analysts anticipate that the firm will post earnings of $5.96 per share, with EPS estimates ranging from $5.66 to $6.25. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Align Technology.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. The firm had revenue of $505.30 million for the quarter, compared to the consensus estimate of $503.14 million. Align Technology had a return on equity of 34.09% and a net margin of 16.89%. The business’s revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share.

Several brokerages recently issued reports on ALGN. Robert W. Baird cut their price target on Align Technology from $425.00 to $330.00 and set an “outperform” rating for the company in a research note on Thursday. ValuEngine cut Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday. Credit Suisse Group cut their target price on Align Technology from $391.00 to $375.00 and set an “outperform” rating for the company in a research note on Thursday. BidaskClub cut Align Technology from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Zacks Investment Research cut Align Technology from a “hold” rating to a “sell” rating in a research note on Monday, October 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $354.08.

In other Align Technology news, SVP Simon Beard sold 3,895 shares of Align Technology stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $384.48, for a total transaction of $1,497,549.60. Following the transaction, the senior vice president now owns 3,577 shares of the company’s stock, valued at approximately $1,375,284.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Hogan sold 25,000 shares of Align Technology stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $367.48, for a total transaction of $9,187,000.00. Following the transaction, the insider now directly owns 105,713 shares in the company, valued at approximately $38,847,413.24. The disclosure for this sale can be found here. Insiders sold a total of 55,648 shares of company stock valued at $20,577,327 over the last quarter. 1.40% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the business. Sigma Planning Corp lifted its position in shares of Align Technology by 9.8% during the 2nd quarter. Sigma Planning Corp now owns 1,527 shares of the medical equipment provider’s stock worth $522,000 after buying an additional 136 shares in the last quarter. Lido Advisors LLC lifted its position in shares of Align Technology by 15.9% during the 2nd quarter. Lido Advisors LLC now owns 1,091 shares of the medical equipment provider’s stock worth $373,000 after buying an additional 150 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Align Technology by 5.5% during the 2nd quarter. Brighton Jones LLC now owns 2,898 shares of the medical equipment provider’s stock worth $992,000 after buying an additional 151 shares in the last quarter. HL Financial Services LLC lifted its position in shares of Align Technology by 8.0% during the 2nd quarter. HL Financial Services LLC now owns 2,137 shares of the medical equipment provider’s stock worth $731,000 after buying an additional 158 shares in the last quarter. Finally, Boston Family Office LLC lifted its position in shares of Align Technology by 6.7% during the 2nd quarter. Boston Family Office LLC now owns 2,565 shares of the medical equipment provider’s stock worth $878,000 after buying an additional 160 shares in the last quarter. 78.54% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ ALGN traded down $1.94 during trading on Friday, reaching $230.13. 4,628,700 shares of the company’s stock were exchanged, compared to its average volume of 1,543,589. The company has a market cap of $18.48 billion, a PE ratio of 59.16, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52. Align Technology has a fifty-two week low of $203.12 and a fifty-two week high of $398.88.

Align Technology Company Profile

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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