Analysts forecast that Align Technology, Inc. (NASDAQ:ALGN) will announce earnings of $1.18 per share for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Align Technology’s earnings, with estimates ranging from $1.16 to $1.22. Align Technology reported earnings per share of $1.01 in the same quarter last year, which suggests a positive year-over-year growth rate of 16.8%. The business is scheduled to announce its next quarterly earnings results on Thursday, October 25th.

On average, analysts expect that Align Technology will report full year earnings of $4.98 per share for the current year, with EPS estimates ranging from $4.93 to $5.05. For the next fiscal year, analysts forecast that the company will report earnings of $6.24 per share, with EPS estimates ranging from $5.86 to $6.58. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Align Technology.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, July 25th. The medical equipment provider reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.21. Align Technology had a net margin of 17.00% and a return on equity of 32.61%. The business had revenue of $490.26 million during the quarter, compared to analyst estimates of $472.10 million. During the same period in the previous year, the business posted $0.85 EPS. The company’s quarterly revenue was up 37.5% on a year-over-year basis.

Several research firms have recently commented on ALGN. BidaskClub raised shares of Align Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 28th. Robert W. Baird lifted their price target on shares of Align Technology from $351.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Barclays reaffirmed a “buy” rating on shares of Align Technology in a report on Thursday, July 26th. Stifel Nicolaus lifted their price target on shares of Align Technology from $375.00 to $425.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Finally, Piper Jaffray Companies lifted their price target on shares of Align Technology to $425.00 and gave the company an “overweight” rating in a report on Friday, July 20th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. Align Technology presently has a consensus rating of “Buy” and a consensus price target of $362.78.

In related news, SVP Stuart A. Hockridge sold 2,753 shares of Align Technology stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $366.73, for a total value of $1,009,607.69. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Raphael Pascaud sold 10,500 shares of Align Technology stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $361.00, for a total transaction of $3,790,500.00. Following the completion of the sale, the chief marketing officer now owns 25,087 shares in the company, valued at $9,056,407. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,648 shares of company stock worth $20,577,327. 1.40% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. Sigma Planning Corp lifted its position in Align Technology by 9.8% in the 2nd quarter. Sigma Planning Corp now owns 1,527 shares of the medical equipment provider’s stock valued at $522,000 after purchasing an additional 136 shares during the last quarter. Lido Advisors LLC raised 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 raised 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 raised 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 raised 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. Hedge funds and other institutional investors own 78.52% of the company’s stock.

Shares of NASDAQ ALGN traded up $8.12 during midday trading on Monday, hitting $388.96. The company’s stock had a trading volume of 475,500 shares, compared to its average volume of 963,133. Align Technology has a 1-year low of $180.31 and a 1-year high of $393.98. The firm has a market capitalization of $30.59 billion, a PE ratio of 99.99, a price-to-earnings-growth ratio of 2.54 and a beta of 1.53.

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

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