Analysts forecast that Align Technology, Inc. (NASDAQ:ALGN) will announce $0.96 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Align Technology’s earnings, with the lowest EPS estimate coming in at $0.93 and the highest estimate coming in at $1.10. Align Technology posted earnings per share of $0.67 in the same quarter last year, which would indicate a positive year-over-year growth rate of 43.3%. The firm is expected to announce its next earnings results on Tuesday, January 30th.

According to Zacks, analysts expect that Align Technology will report full year earnings of $3.62 per share for the current fiscal year, with EPS estimates ranging from $3.38 to $3.81. For the next fiscal year, analysts anticipate that the business will report earnings of $4.38 per share, with EPS estimates ranging from $3.81 to $4.70. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Align Technology.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.19. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The company had revenue of $385.30 million for the quarter, compared to the consensus estimate of $359.80 million. During the same period in the previous year, the business earned $0.63 EPS. Align Technology’s revenue for the quarter was up 38.3% compared to the same quarter last year.

Several equities research analysts have issued reports on ALGN shares. Morgan Stanley lifted their price objective on Align Technology from $257.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, November 27th. Leerink Swann reiterated an “outperform” rating and issued a $250.00 target price on shares of Align Technology in a research report on Friday, October 27th. Zacks Investment Research upgraded Align Technology from a “hold” rating to a “buy” rating and set a $227.00 target price for the company in a research report on Monday, October 30th. Credit Suisse Group lifted their target price on Align Technology from $175.00 to $209.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Finally, Northcoast Research reiterated a “buy” rating and issued a $230.00 target price (up previously from $200.00) on shares of Align Technology in a research report on Tuesday, October 10th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $236.75.

Align Technology (NASDAQ ALGN) traded down $0.25 during mid-day trading on Friday, reaching $233.55. The company’s stock had a trading volume of 1,504,363 shares, compared to its average volume of 1,143,828. Align Technology has a 52 week low of $88.56 and a 52 week high of $266.41. The stock has a market cap of $18,725.57, a P/E ratio of 69.10, a PEG ratio of 2.23 and a beta of 1.43.

In other news, CMO Raphael Pascaud sold 5,400 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $241.88, for a total transaction of $1,306,152.00. Following the sale, the chief marketing officer now directly owns 22,228 shares of the company’s stock, valued at $5,376,508.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greg J. Santora sold 7,700 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 52,849 shares of company stock worth $13,494,348 over the last ninety days. 1.60% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Buckingham Asset Management LLC raised its position in Align Technology by 3.3% during the second quarter. Buckingham Asset Management LLC now owns 1,861 shares of the medical equipment provider’s stock valued at $279,000 after buying an additional 59 shares during the period. BB&T Securities LLC raised its position in Align Technology by 3.5% during the second quarter. BB&T Securities LLC now owns 2,757 shares of the medical equipment provider’s stock valued at $413,000 after buying an additional 94 shares during the period. Wesbanco Bank Inc. raised its position in Align Technology by 0.9% during the second quarter. Wesbanco Bank Inc. now owns 11,054 shares of the medical equipment provider’s stock valued at $1,659,000 after buying an additional 100 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in Align Technology by 13.0% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock valued at $137,000 after buying an additional 105 shares during the period. Finally, Commonwealth Bank of Australia raised its position in Align Technology by 10.5% during the second quarter. Commonwealth Bank of Australia now owns 1,129 shares of the medical equipment provider’s stock valued at $169,000 after buying an additional 107 shares during the period. 84.04% of the stock is currently owned by institutional investors.

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Align Technology Company Profile

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

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