Align Technology (ALGN) to Release Quarterly Earnings on Wednesday

Align Technology (NASDAQ:ALGNGet Rating) will issue its quarterly earnings data after the market closes on Wednesday, April 27th. Analysts expect the company to announce earnings of $1.99 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Align Technology (NASDAQ:ALGNGet Rating) last posted its quarterly earnings results on Wednesday, February 2nd. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.13. Align Technology had a return on equity of 22.19% and a net margin of 19.53%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company earned $2.00 EPS. Align Technology’s revenue for the quarter was up 23.6% compared to the same quarter last year. On average, analysts expect Align Technology to post $11 EPS for the current fiscal year and $14 EPS for the next fiscal year.

Shares of Align Technology stock opened at $424.54 on Wednesday. The business has a 50-day simple moving average of $452.16 and a 200-day simple moving average of $551.83. Align Technology has a one year low of $372.62 and a one year high of $737.45. The company has a market cap of $33.46 billion, a PE ratio of 43.77, a P/E/G ratio of 2.86 and a beta of 1.61.

Several research firms have commented on ALGN. Credit Suisse Group lowered 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. UBS Group raised Align Technology from a “neutral” rating to a “buy” rating and dropped their target price for the company from $880.00 to $620.00 in a report on Monday, January 31st. Morgan Stanley initiated coverage on Align Technology in a research note on Monday, January 31st. They issued an “overweight” rating and a $575.00 price target on the stock. Robert W. Baird lowered their price objective on Align Technology from $745.00 to $650.00 in a research report on Thursday, February 3rd. Finally, Stifel Nicolaus cut their target price on Align Technology from $675.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, February 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Align Technology currently has an average rating of “Buy” and a consensus price target of $693.38.

Several hedge funds have recently bought and sold shares of ALGN. NEXT Financial Group Inc increased its holdings in shares of Align Technology by 37.0% in the 4th quarter. NEXT Financial Group Inc now owns 74 shares of the medical equipment provider’s stock valued at $48,000 after acquiring an additional 20 shares during the period. Zullo Investment Group Inc. purchased a new position in Align Technology during the 4th quarter worth $75,000. Monolith Advisors acquired a new position in Align Technology in the fourth quarter valued at $76,000. Kingsview Wealth Management LLC purchased a new stake in shares of Align Technology in the fourth quarter valued at about $211,000. Finally, HB Wealth Management LLC acquired a new stake in shares of Align Technology during the fourth quarter worth about $226,000. 86.76% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading

Earnings History for Align Technology (NASDAQ:ALGN)

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