Zacks: Analysts Expect Align Technology, Inc. (NASDAQ:ALGN) to Announce $2.24 EPS

Analysts expect that Align Technology, Inc. (NASDAQ:ALGN – Get Rating) will announce earnings of $2.24 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Align Technology’s earnings, with the lowest EPS estimate coming in at $1.78 and the highest estimate coming in at $2.55. Align Technology reported earnings of $2.49 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 10%. The company is expected to issue its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Align Technology will report full year earnings of $12.75 per share for the current fiscal year, with EPS estimates ranging from $11.79 to $13.59. For the next fiscal year, analysts forecast that the business will report earnings of $15.63 per share, with EPS estimates ranging from $14.25 to $16.46. Zacks’ EPS averages are an average based on a survey of research firms that follow Align Technology.

Align Technology (NASDAQ:ALGN – Get Rating) last released its quarterly earnings data on Wednesday, February 2nd. The medical equipment provider reported $2.40 EPS for the quarter, beating the Zacks’ consensus estimate of $2.27 by $0.13. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Align Technology had a net margin of 19.53% and a return on equity of 22.19%. Align Technology’s quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.00 EPS.

A number of analysts have commented on ALGN shares. StockNews.com started coverage on shares of Align Technology in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research upgraded shares of 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. Credit Suisse Group cut their price target on shares of Align Technology from $782.00 to $722.00 and set an “outperform” rating for the company in a report on Thursday, February 3rd. Stifel Nicolaus cut their price target on shares of Align Technology from $675.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, February 3rd. Finally, UBS Group upgraded shares of Align Technology from a “neutral” rating to a “buy” rating and cut their price target for the stock from $880.00 to $620.00 in a report on Monday, January 31st. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Align Technology presently has a consensus rating of “Buy” and an average price target of $693.38.

Several large investors have recently bought and sold shares of ALGN. BerganKDV Wealth Management LLC boosted its position in shares of Align Technology by 160.0% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 39 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 24 shares during the period. Harbor Investment Advisory LLC boosted its position in Align Technology by 200.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 39 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 26 shares during the period. Lindbrook Capital LLC boosted its position in Align Technology by 78.3% in the 3rd quarter. Lindbrook Capital LLC now owns 41 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 18 shares during the period. MUFG Americas Holdings Corp purchased a new position in Align Technology in the 3rd quarter valued at approximately $27,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in Align Technology in the 4th quarter valued at approximately $39,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

ALGN stock traded down $7.09 during mid-day trading on Friday, reaching $409.82. The company’s stock had a trading volume of 458,010 shares, compared to its average volume of 653,698. The stock has a market cap of $32.30 billion, a PE ratio of 42.25, a P/E/G ratio of 2.86 and a beta of 1.61. Align Technology has a fifty-two week low of $372.62 and a fifty-two week high of $737.45. The company’s 50 day moving average is $456.78 and its two-hundred day moving average is $555.31.

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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