Align Technology, Inc. (NASDAQ:ALGN) – Analysts at Northcoast Research increased their Q1 2017 earnings per share (EPS) estimates for Align Technology in a report released on Tuesday. Northcoast Research analyst E. Snyder now forecasts that the medical equipment provider will earn $0.70 per share for the quarter, up from their prior forecast of $0.69. Northcoast Research also issued estimates for Align Technology’s Q2 2017 earnings at $0.75 EPS, Q4 2017 earnings at $0.80 EPS, FY2017 earnings at $3.00 EPS, Q1 2018 earnings at $0.73 EPS, Q3 2018 earnings at $0.99 EPS, Q4 2018 earnings at $1.05 EPS and FY2018 earnings at $3.77 EPS.
A number of other analysts have also commented on the stock. Jefferies Group LLC lifted their price target on shares of Align Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, January 23rd. Zacks Investment Research lowered shares of Align Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, January 10th. Finally, Stifel Nicolaus restated a “buy” rating and set a $130.00 target price on shares of Align Technology in a research report on Tuesday, April 11th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $106.29.
Align Technology (NASDAQ:ALGN) opened at 118.87 on Wednesday. The company has a market capitalization of $9.54 billion, a PE ratio of 51.02 and a beta of 1.40. Align Technology has a 52 week low of $70.03 and a 52 week high of $119.19. The company has a 50-day moving average of $111.78 and a 200-day moving average of $98.66.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Tuesday, January 31st. The medical equipment provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by $0.07. The firm earned $293.20 million during the quarter, compared to the consensus estimate of $292.75 million. Align Technology had a net margin of 17.57% and a return on equity of 20.82%. The business’s revenue was up 27.3% compared to the same quarter last year. During the same period last year, the business earned $0.60 earnings per share.
A number of hedge funds have recently made changes to their positions in the stock. Oakbrook Investments LLC raised its stake in shares of Align Technology by 57.3% in the third quarter. Oakbrook Investments LLC now owns 5,900 shares of the medical equipment provider’s stock valued at $553,000 after buying an additional 2,150 shares during the period. Insight Capital Research & Management Inc. raised its position in Align Technology by 3.1% in the third quarter. Insight Capital Research & Management Inc. now owns 62,836 shares of the medical equipment provider’s stock worth $5,891,000 after buying an additional 1,885 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Align Technology by 0.5% in the third quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the medical equipment provider’s stock worth $1,828,000 after buying an additional 100 shares during the last quarter. Proficio Capital Partners LLC raised its position in Align Technology by 369.0% in the third quarter. Proficio Capital Partners LLC now owns 1,271 shares of the medical equipment provider’s stock worth $119,000 after buying an additional 1,000 shares during the last quarter. Finally, Magee Thomson Investment Partners LLC raised its position in Align Technology by 37.1% in the third quarter. Magee Thomson Investment Partners LLC now owns 180,200 shares of the medical equipment provider’s stock worth $16,894,000 after buying an additional 48,750 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.
In related news, Director C Raymond Larkin, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $94.71, for a total transaction of $1,420,650.00. Following the completion of the sale, the director now directly owns 92,012 shares in the company, valued at $8,714,456.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrea Lynn Saia sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $99.68, for a total transaction of $398,720.00. Following the sale, the director now owns 14,133 shares of the company’s stock, valued at $1,408,777.44. The disclosure for this sale can be found here. Insiders have sold 159,881 shares of company stock valued at $16,161,265 over the last 90 days. 2.00% of the stock is currently owned by company 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.
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