Zacks: Analysts Expect Align Technology, Inc. (ALGN) Will Announce Earnings of $0.83 Per Share

Wall Street brokerages expect that Align Technology, Inc. (NASDAQ:ALGN) will post earnings per share (EPS) of $0.83 for the current quarter, according to Zacks. Seven analysts have provided estimates for Align Technology’s earnings. The lowest EPS estimate is $0.81 and the highest is $0.84. Align Technology posted earnings of $1.17 per share in the same quarter last year, which would suggest a negative year over year growth rate of 29.1%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, April 24th.

On average, analysts expect that Align Technology will report full-year earnings of $5.08 per share for the current financial year, with EPS estimates ranging from $4.92 to $5.30. For the next year, analysts expect that the company will report earnings of $7.11 per share, with EPS estimates ranging from $6.66 to $7.65. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Align Technology.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Tuesday, January 29th. The medical equipment provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.04. The business had revenue of $534.02 million during the quarter, compared to the consensus estimate of $512.03 million. Align Technology had a return on equity of 33.41% and a net margin of 20.35%.

A number of brokerages recently weighed in on ALGN. ValuEngine raised shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Robert W. Baird upped their price target on shares of Align Technology from $255.00 to $286.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. They noted that the move was a valuation call. UBS Group cut shares of Align Technology from a “buy” rating to a “neutral” rating and set a $275.00 price target for the company. in a research report on Thursday, February 14th. OTR Global cut shares of Align Technology to a “positive” rating in a research report on Thursday. Finally, William Blair reaffirmed an “outperform” rating on shares of Align Technology in a research report on Monday, November 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $331.59.

In other Align Technology news, SVP Julie Tay sold 1,250 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $254.58, for a total value of $318,225.00. Following the completion of the transaction, the senior vice president now directly owns 11,926 shares of the company’s stock, valued at approximately $3,036,121.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph Lacob sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $258.31, for a total transaction of $5,166,200.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,650 shares of company stock valued at $5,586,633. 1.40% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Align Technology by 31.7% during the fourth quarter. BlackRock Inc. now owns 6,935,085 shares of the medical equipment provider’s stock worth $1,452,414,000 after purchasing an additional 1,670,441 shares during the last quarter. FMR LLC lifted its position in shares of Align Technology by 6.2% during the third quarter. FMR LLC now owns 1,811,522 shares of the medical equipment provider’s stock worth $708,704,000 after purchasing an additional 106,012 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Align Technology by 22.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,334,677 shares of the medical equipment provider’s stock worth $279,521,000 after purchasing an additional 244,095 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Align Technology by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,057,392 shares of the medical equipment provider’s stock worth $221,101,000 after purchasing an additional 9,617 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its position in shares of Align Technology by 1.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 938,023 shares of the medical equipment provider’s stock worth $366,973,000 after purchasing an additional 9,958 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Shares of Align Technology stock opened at $247.59 on Friday. Align Technology has a twelve month low of $177.93 and a twelve month high of $398.88. The firm has a market cap of $20.17 billion, a P/E ratio of 50.32, a price-to-earnings-growth ratio of 2.29 and a beta of 2.12.

About Align Technology

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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