Align Technology, Inc. (ALGN) to Post FY2017 Earnings of $3.65 Per Share, Jefferies Group Forecasts
Align Technology, Inc. (NASDAQ:ALGN) – Stock analysts at Jefferies Group lifted their FY2017 EPS estimates for shares of Align Technology in a research note issued to investors on Thursday. Jefferies Group analyst B. Couillard now forecasts that the medical equipment provider will post earnings of $3.65 per share for the year, up from their previous forecast of $3.40. Jefferies Group also issued estimates for Align Technology’s Q4 2017 earnings at $0.95 EPS, Q1 2018 earnings at $0.93 EPS, Q2 2018 earnings at $1.11 EPS, Q3 2018 earnings at $1.18 EPS and Q4 2018 earnings at $1.21 EPS.
Other equities research analysts also recently issued reports about the company. Stifel Nicolaus restated a “buy” rating and set a $225.00 price objective (up from $205.00) on shares of Align Technology in a report on Thursday, October 19th. Robert W. Baird set a $208.00 price objective on Align Technology and gave the stock a “buy” rating in a report on Wednesday, October 18th. Northcoast Research restated a “buy” rating and set a $230.00 price objective (up from $200.00) on shares of Align Technology in a report on Tuesday, October 10th. Piper Jaffray Companies restated a “buy” rating and set a $176.00 price objective on shares of Align Technology in a report on Friday, July 28th. Finally, Bank of America Corporation upgraded Align Technology from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $175.00 to $193.00 in a report on Friday, July 28th. Eleven analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $219.18.
Shares of Align Technology (NASDAQ:ALGN) opened at $249.46 on Friday. Align Technology has a twelve month low of $88.56 and a twelve month high of $254.19. The stock has a market capitalization of $20,014.76, a P/E ratio of 73.86, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42.
Align Technology (NASDAQ:ALGN) last announced its 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 business 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 was up 38.3% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS.
In other news, Director Greg J. Santora sold 7,700 shares of Align Technology stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $238.95, for a total value of $1,839,915.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Raphael Pascaud sold 5,400 shares of Align Technology 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 completion of the transaction, the chief marketing officer now owns 22,228 shares of the company’s stock, valued at approximately $5,376,508.64. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Crossmark Global Holdings Inc. acquired a new position in shares of Align Technology in the 3rd quarter worth approximately $2,875,000. Oppenheimer & Co. Inc. acquired a new position in shares of Align Technology in the 2nd quarter worth approximately $1,768,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Align Technology in the 2nd quarter worth approximately $454,000. American Century Companies Inc. boosted its position in Align Technology by 2,236.0% during the 2nd quarter. American Century Companies Inc. now owns 221,009 shares of the medical equipment provider’s stock valued at $33,178,000 after purchasing an additional 211,548 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Align Technology by 17.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 90,969 shares of the medical equipment provider’s stock valued at $13,657,000 after purchasing an additional 13,753 shares during the period. Institutional investors own 81.16% of the company’s stock.
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.
Receive News & Ratings for Align Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.