Wall Street analysts expect Align Technology, Inc. (NASDAQ:ALGN – Get Rating) to announce sales of $1.01 billion for the current quarter, according to Zacks. Five analysts have provided estimates for Align Technology’s earnings, with the highest sales estimate coming in at $1.06 billion and the lowest estimate coming in at $931.10 million. Align Technology also posted sales of $1.01 billion during the same quarter last year. The company is expected to issue its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Align Technology will report full-year sales of $4.24 billion for the current financial year, with estimates ranging from $3.94 billion to $4.52 billion. For the next financial year, analysts forecast that the company will post sales of $5.07 billion, with estimates ranging from $4.53 billion to $5.72 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Align Technology.
Align Technology (NASDAQ:ALGN – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The medical equipment provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.14. Align Technology had a net margin of 17.51% and a return on equity of 19.90%. During the same quarter in the prior year, the business posted $2.51 EPS.
A number of research firms have recently issued reports on ALGN. Credit Suisse Group reduced their price target on shares of Align Technology from $722.00 to $418.00 in a research report on Wednesday, May 4th. TheStreet downgraded shares of Align Technology from a “b-” rating to a “c+” rating in a research report on Monday, April 25th. Robert W. Baird reduced their price target on shares of Align Technology from $625.00 to $510.00 and set an “outperform” rating on the stock in a research report on Thursday, April 28th. Morgan Stanley reduced their price target on shares of Align Technology from $575.00 to $524.00 in a research report on Thursday, April 28th. Finally, Stifel Nicolaus dropped their price objective on shares of Align Technology from $575.00 to $425.00 in a report on Thursday, April 28th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Align Technology currently has a consensus rating of “Buy” and an average price target of $578.27.
Align Technology stock opened at $268.96 on Tuesday. The firm’s 50-day moving average is $401.98 and its 200-day moving average is $522.81. Align Technology has a 1 year low of $265.30 and a 1 year high of $737.45. The company has a market cap of $21.20 billion, a P/E ratio of 30.25, a PEG ratio of 4.48 and a beta of 1.76.
In related news, CEO Joseph M. Hogan bought 6,700 shares of the stock in a transaction on Wednesday, May 4th. The shares were purchased at an average price of $298.48 per share, with a total value of $1,999,816.00. Following the purchase, the chief executive officer now owns 174,801 shares in the company, valued at $52,174,602.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.64% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in ALGN. BerganKDV Wealth Management LLC increased its stake in Align Technology by 160.0% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 39 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 24 shares during the period. Harbor Investment Advisory LLC grew its stake in shares of Align Technology by 200.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 39 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 26 shares during the last quarter. Tsfg LLC grew its stake in shares of Align Technology by 200.0% in the 1st quarter. Tsfg LLC now owns 75 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 50 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in shares of Align Technology in the 4th quarter worth approximately $39,000. Finally, Catalyst Capital Advisors LLC grew its stake in shares of Align Technology by 32.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 65 shares of the medical equipment provider’s stock worth $43,000 after purchasing an additional 16 shares during the last quarter. 88.17% of the stock is currently owned by hedge funds and other institutional investors.
Align Technology Company Profile (Get Rating)
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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