Brokers Set Expectations for Align Technology, Inc.’s FY2018 Earnings (ALGN)

Align Technology, Inc. (NASDAQ:ALGN) – Equities research analysts at Jefferies Group increased their FY2018 EPS estimates for shares of Align Technology in a research note issued on Thursday. Jefferies Group analyst B. Couillard now forecasts that the medical equipment provider will post earnings per share of $4.45 for the year, up from their prior forecast of $4.00. Jefferies Group also issued estimates for Align Technology’s FY2019 earnings at $5.45 EPS.

A number of other brokerages have also recently issued reports on ALGN. Piper Jaffray Companies reissued a “buy” rating and set a $176.00 price objective on shares of Align Technology in a report on Friday, July 28th. Robert W. Baird reaffirmed a “buy” rating and issued a $245.00 price target on shares of Align Technology in a report on Friday, October 27th. Leerink Swann reissued an “outperform” rating and set a $250.00 price objective on shares of Align Technology in a report on Friday, October 27th. Morgan Stanley restated an “overweight” rating and set a $182.00 target price (up from $175.00) on shares of Align Technology in a research report on Monday, July 17th. Finally, Stifel Nicolaus boosted their target price on Align Technology from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Eleven research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $219.18.

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Shares of Align Technology (NASDAQ ALGN) opened at $249.46 on Monday. Align Technology has a 52 week low of $88.56 and a 52 week high of $254.19. The stock has a market cap of $20,000.00, a price-to-earnings ratio of 73.81, a PEG ratio of 2.39 and a beta of 1.41.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.82 by $0.19. The company had revenue of $385.30 million for the quarter, compared to the consensus estimate of $359.80 million. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The company’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 earnings per share.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Honkamp Krueger Financial Services Inc. lifted its stake in Align Technology by 1.7% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 2,037 shares of the medical equipment provider’s stock valued at $306,000 after acquiring an additional 34 shares in the last quarter. Buckingham Asset Management LLC lifted its stake in Align Technology by 3.3% in the 2nd quarter. Buckingham Asset Management LLC now owns 1,861 shares of the medical equipment provider’s stock valued at $279,000 after acquiring an additional 59 shares in the last quarter. Security Asset Management lifted its stake in Align Technology by 0.5% in the 2nd quarter. Security Asset Management now owns 12,735 shares of the medical equipment provider’s stock valued at $1,912,000 after acquiring an additional 65 shares in the last quarter. BB&T Securities LLC lifted its stake in Align Technology by 3.5% in the 2nd quarter. BB&T Securities LLC now owns 2,757 shares of the medical equipment provider’s stock valued at $413,000 after acquiring an additional 94 shares in the last quarter. Finally, Wrapmanager Inc. lifted its stake in Align Technology by 2.6% in the 2nd quarter. Wrapmanager Inc. now owns 3,835 shares of the medical equipment provider’s stock valued at $576,000 after acquiring an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 80.86% of the company’s stock.

In other Align Technology news, CMO Raphael Pascaud sold 5,400 shares of the business’s 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 owns 22,228 shares in the company, valued at approximately $5,376,508.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Greg J. Santora sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total value of $1,839,915.00. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

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.

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

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