$0.96 Earnings Per Share Expected for Align Technology, Inc. (ALGN) This Quarter

Wall Street brokerages expect that Align Technology, Inc. (NASDAQ:ALGN) will report $0.96 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Align Technology’s earnings, with the lowest EPS estimate coming in at $0.93 and the highest estimate coming in at $1.10. Align Technology reported earnings per share of $0.67 in the same quarter last year, which would indicate a positive year-over-year growth rate of 43.3%. The business is scheduled to announce its next earnings results on Tuesday, January 30th.

On average, analysts expect that Align Technology will report full-year earnings of $3.65 per share for the current financial year, with EPS estimates ranging from $3.38 to $3.81. For the next financial year, analysts anticipate that the business will post earnings of $4.41 per share, with EPS estimates ranging from $4.06 to $4.70. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Align Technology.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.19. The firm had revenue of $385.30 million during 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 company’s revenue was up 38.3% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share.

Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their target price on Align Technology from $257.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, November 27th. Leerink Swann restated an “outperform” rating and set a $250.00 target price on shares of Align Technology in a research report on Friday, October 27th. Deutsche Bank assumed coverage on Align Technology in a research report on Friday, December 8th. They set a “hold” rating and a $250.00 target price for the company. Zacks Investment Research upgraded Align Technology from a “hold” rating to a “buy” rating and set a $227.00 target price for the company in a research report on Monday, October 30th. Finally, Credit Suisse Group boosted their target price on Align Technology from $175.00 to $209.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $236.75.

Shares of Align Technology (ALGN) traded up $2.43 during mid-day trading on Wednesday, reaching $224.62. The company had a trading volume of 979,600 shares, compared to its average volume of 769,900. The firm has a market capitalization of $18,390.00, a price-to-earnings ratio of 68.27, a price-to-earnings-growth ratio of 1.74 and a beta of 1.43. Align Technology has a 1 year low of $88.56 and a 1 year high of $266.41.

In other news, VP Julie Tay sold 3,500 shares of Align Technology stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $253.00, for a total transaction of $885,500.00. Following the transaction, the vice president now owns 12,213 shares in the company, valued at approximately $3,089,889. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Morici sold 1,500 shares of Align Technology stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $255.00, for a total value of $382,500.00. Following the transaction, the chief financial officer now owns 1,544 shares in the company, valued at approximately $393,720. The disclosure for this sale can be found here. Insiders have sold a total of 52,849 shares of company stock worth $13,494,348 in the last quarter. 1.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. raised its stake in shares of Align Technology by 50.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 350,148 shares of the medical equipment provider’s stock worth $52,565,000 after purchasing an additional 117,038 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of Align Technology by 99.2% during the 2nd quarter. Prudential Financial Inc. now owns 95,831 shares of the medical equipment provider’s stock worth $14,386,000 after acquiring an additional 47,715 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Align Technology by 11.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 5,074 shares of the medical equipment provider’s stock worth $762,000 after acquiring an additional 536 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Align Technology by 12.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,506 shares of the medical equipment provider’s stock worth $2,028,000 after acquiring an additional 1,489 shares during the last quarter. Finally, Keybank National Association OH acquired a new position in shares of Align Technology during the 2nd quarter worth approximately $336,000. Hedge funds and other institutional investors own 82.89% of the company’s stock.

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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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