Brokerages Anticipate Align Technology, Inc. (NASDAQ:ALGN) to Announce $2.30 Earnings Per Share

Clara D. Flaherty

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Equities analysts expect Align Technology, Inc. (NASDAQ:ALGNGet Rating) to post $2.30 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Align Technology’s earnings, with the lowest EPS estimate coming in at $1.94 and the highest estimate coming in at $2.47. Align Technology reported earnings per share of $3.04 during the same quarter last year, which suggests a negative year-over-year growth rate of 24.3%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Align Technology will report full year earnings of $10.14 per share for the current year, with EPS estimates ranging from $8.70 to $11.97. For the next year, analysts anticipate that the company will post earnings of $12.85 per share, with EPS estimates ranging from $10.45 to $14.65. Zacks’ EPS calculations are an average based on a survey of research firms that cover Align Technology.

Align Technology (NASDAQ:ALGNGet Rating) last posted its earnings results on Wednesday, April 27th. The medical equipment provider reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.29). Align Technology had a return on equity of 19.90% and a net margin of 17.51%. The company had revenue of $973.22 million during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm posted $2.51 earnings per share.

ALGN has been the subject of several analyst reports. Robert W. Baird reduced their target price on Align Technology from $625.00 to $510.00 and set an “outperform” rating for the company in a report on Thursday, April 28th. Piper Sandler reduced their target price on Align Technology from $600.00 to $440.00 in a report on Thursday, April 28th. TheStreet lowered Align Technology from a “b-” rating to a “c+” rating in a report on Monday, April 25th. Zacks Investment Research upgraded Align Technology from a “sell” rating to a “hold” rating and set a $454.00 price target for the company in a report on Tuesday, March 22nd. Finally, UBS Group cut their price target on Align Technology from $620.00 to $500.00 and set a “buy” rating for the company in a report on Tuesday, April 26th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $578.27.

In other Align Technology news, CEO Joseph M. Hogan bought 6,700 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The shares were acquired at an average cost of $298.48 per share, for a total transaction of $1,999,816.00. Following the transaction, the chief executive officer now owns 174,801 shares in the company, valued at $52,174,602.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Raymond Larkin, Jr. bought 1,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The shares were acquired at an average price of $264.42 per share, for a total transaction of $264,420.00. Following the completion of the transaction, the director now owns 18,190 shares in the company, valued at approximately $4,809,799.80. The disclosure for this purchase can be found here. 0.64% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Personal CFO Solutions LLC boosted its position in Align Technology by 1.4% in the third quarter. Personal CFO Solutions LLC now owns 1,226 shares of the medical equipment provider’s stock valued at $816,000 after buying an additional 17 shares in the last quarter. NEXT Financial Group Inc lifted its position in shares of Align Technology by 37.0% during the fourth quarter. NEXT Financial Group Inc now owns 74 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 20 shares in the last quarter. Camden Capital LLC lifted its position in shares of Align Technology by 4.2% during the fourth quarter. Camden Capital LLC now owns 521 shares of the medical equipment provider’s stock worth $342,000 after purchasing an additional 21 shares in the last quarter. Kestra Advisory Services LLC lifted its position in shares of Align Technology by 1.3% during the fourth quarter. Kestra Advisory Services LLC now owns 1,759 shares of the medical equipment provider’s stock worth $1,156,000 after purchasing an additional 22 shares in the last quarter. Finally, Insight Wealth Strategies LLC lifted its position in shares of Align Technology by 1.9% during the fourth quarter. Insight Wealth Strategies LLC now owns 1,241 shares of the medical equipment provider’s stock worth $816,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 88.17% of the company’s stock.

ALGN traded up $9.74 on Friday, hitting $284.57. The company had a trading volume of 953,365 shares, compared to its average volume of 985,329. The company’s fifty day moving average price is $356.87 and its 200 day moving average price is $486.17. Align Technology has a 1-year low of $250.64 and a 1-year high of $737.45. The stock has a market cap of $22.43 billion, a price-to-earnings ratio of 32.01, a price-to-earnings-growth ratio of 4.37 and a beta of 1.76.

About Align Technology (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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