Analysts Expect Align Technology, Inc. (NASDAQ:ALGN) Will Announce Quarterly Sales of $805.00 Million


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Analysts expect Align Technology, Inc. (NASDAQ:ALGN) to post $805.00 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Align Technology’s earnings. The lowest sales estimate is $731.90 million and the highest is $860.90 million. Align Technology posted sales of $550.96 million during the same quarter last year, which would indicate a positive year over year growth rate of 46.1%. The business is expected to announce its next earnings results on Wednesday, May 5th.

On average, analysts expect that Align Technology will report full-year sales of $3.47 billion for the current fiscal year, with estimates ranging from $3.26 billion to $3.68 billion. For the next year, analysts expect that the firm will post sales of $4.21 billion, with estimates ranging from $3.95 billion to $4.49 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Align Technology.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Tuesday, February 2nd. The medical equipment provider reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.47. The firm had revenue of $834.50 million during the quarter, compared to the consensus estimate of $793.56 million. Align Technology had a net margin of 76.00% and a return on equity of 68.99%. The company’s revenue was up 28.4% on a year-over-year basis. During the same quarter last year, the company earned $1.53 earnings per share.

Several equities analysts have recently weighed in on ALGN shares. Barclays lifted their target price on shares of Align Technology from $475.00 to $555.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 4th. Robert W. Baird raised their price objective on shares of Align Technology from $450.00 to $530.00 and gave the company an “outperform” rating in a research report on Tuesday, November 24th. Credit Suisse Group raised their price objective on shares of Align Technology from $618.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, February 4th. Stifel Nicolaus raised their price objective on shares of Align Technology from $460.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Finally, Piper Sandler raised their price objective on shares of Align Technology from $525.00 to $610.00 and gave the company an “overweight” rating in a research report on Tuesday, February 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $481.71.

In other Align Technology news, Director Thomas M. Prescott sold 2,500 shares of Align Technology stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $612.01, for a total transaction of $1,530,025.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director George J. Morrow sold 15,000 shares of Align Technology stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $624.60, for a total transaction of $9,369,000.00. Following the transaction, the director now directly owns 26,680 shares in the company, valued at $16,664,328. The disclosure for this sale can be found here. Insiders have sold 23,000 shares of company stock worth $13,886,765 over the last three months. Insiders own 1.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. JCIC Asset Management Inc. increased its stake in shares of Align Technology by 33.7% in the fourth quarter. JCIC Asset Management Inc. now owns 452 shares of the medical equipment provider’s stock worth $242,000 after buying an additional 114 shares during the period. Orion Capital Management LLC purchased a new position in shares of Align Technology in the fourth quarter worth $310,000. JPMorgan Chase & Co. increased its stake in shares of Align Technology by 599.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,172,833 shares of the medical equipment provider’s stock worth $626,739,000 after buying an additional 1,005,263 shares during the period. Symmetry Partners LLC increased its stake in shares of Align Technology by 75.2% in the fourth quarter. Symmetry Partners LLC now owns 1,826 shares of the medical equipment provider’s stock worth $976,000 after buying an additional 784 shares during the period. Finally, Twinbeech Capital LP purchased a new position in shares of Align Technology in the fourth quarter worth $1,209,000. 85.84% of the stock is currently owned by institutional investors.

Shares of ALGN traded down $22.64 during trading hours on Thursday, hitting $556.90. The company’s stock had a trading volume of 21,881 shares, compared to its average volume of 544,819. The company has a market cap of $43.91 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 4.07 and a beta of 1.68. The business has a 50 day simple moving average of $569.55 and a two-hundred day simple moving average of $443.08. Align Technology has a 52-week low of $127.88 and a 52-week high of $634.46.

About Align Technology

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

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