Align Technology (NASDAQ:ALGN) – Research analysts at Piper Jaffray lifted their Q3 2018 earnings per share (EPS) estimates for Align Technology in a note issued to investors on Wednesday, April 25th. Piper Jaffray analyst M. O’brien now expects that the medical equipment provider will post earnings per share of $1.14 for the quarter, up from their prior forecast of $1.12. Piper Jaffray currently has a “Buy” rating and a $300.00 target price on the stock. Piper Jaffray also issued estimates for Align Technology’s Q4 2018 earnings at $1.29 EPS, FY2018 earnings at $4.63 EPS, Q2 2019 earnings at $1.34 EPS, Q3 2019 earnings at $1.56 EPS, Q4 2019 earnings at $1.76 EPS and FY2019 earnings at $5.94 EPS.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, April 25th. The medical equipment provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.19. Align Technology had a return on equity of 30.36% and a net margin of 16.12%. The business had revenue of $436.92 million during the quarter, compared to analyst estimates of $408.27 million. During the same quarter in the prior year, the company posted $0.59 EPS. Align Technology’s quarterly revenue was up 40.8% compared to the same quarter last year.

Several other research analysts have also issued reports on ALGN. Credit Suisse Group increased their target price on Align Technology from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays increased their target price on Align Technology from $290.00 to $295.00 and gave the stock an “overweight” rating in a research report on Thursday. Stifel Nicolaus increased their target price on Align Technology from $295.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley increased their target price on Align Technology from $270.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, BidaskClub lowered Align Technology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $265.15.

Shares of NASDAQ:ALGN opened at $257.90 on Friday. Align Technology has a 52-week low of $131.32 and a 52-week high of $287.32. The company has a market capitalization of $20,828.62, a PE ratio of 61.58, a PEG ratio of 1.92 and a beta of 1.47.

In related news, VP Emory Wright sold 45,780 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $260.08, for a total transaction of $11,906,462.40. Following the completion of the transaction, the vice president now owns 29,957 shares of the company’s stock, valued at approximately $7,791,216.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Hogan acquired 1,500 shares of Align Technology stock in a transaction that occurred on Tuesday, February 13th. The shares were bought at an average cost of $233.63 per share, with a total value of $350,445.00. Following the transaction, the insider now owns 42,984 shares in the company, valued at $10,042,351.92. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its stake in Align Technology by 28.3% during the 4th quarter. Renaissance Technologies LLC now owns 2,614,100 shares of the medical equipment provider’s stock valued at $580,827,000 after purchasing an additional 576,900 shares during the last quarter. Carillon Tower Advisers Inc. purchased a new stake in Align Technology during the 4th quarter valued at $62,895,000. First Republic Investment Management Inc. boosted its stake in Align Technology by 496.3% during the 4th quarter. First Republic Investment Management Inc. now owns 192,834 shares of the medical equipment provider’s stock valued at $42,845,000 after purchasing an additional 160,496 shares during the last quarter. BlackRock Inc. boosted its stake in Align Technology by 2.6% during the 4th quarter. BlackRock Inc. now owns 5,153,023 shares of the medical equipment provider’s stock valued at $1,144,948,000 after purchasing an additional 130,189 shares during the last quarter. Finally, AXA boosted its stake in Align Technology by 154.1% during the 4th quarter. AXA now owns 212,861 shares of the medical equipment provider’s stock valued at $47,295,000 after purchasing an additional 129,100 shares during the last quarter. 80.28% of the stock is owned by institutional investors.

About Align Technology

Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.

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

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