Brokerages forecast that Align Technology, Inc. (NASDAQ:ALGN) will report earnings of $1.14 per share for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Align Technology’s earnings. The lowest EPS estimate is $1.13 and the highest is $1.16. Align Technology reported earnings of $1.24 per share in the same quarter last year, which indicates a negative year over year growth rate of 8.1%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, October 23rd.

On average, analysts expect that Align Technology will report full-year earnings of $5.23 per share for the current fiscal year, with EPS estimates ranging from $5.15 to $5.41. For the next year, analysts forecast that the business will report earnings of $6.59 per share, with EPS estimates ranging from $6.19 to $7.25. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Align Technology.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.13. Align Technology had a net margin of 19.06% and a return on equity of 29.26%. The firm had revenue of $600.70 million for the quarter, compared to the consensus estimate of $599.86 million. During the same period in the prior year, the firm earned $1.30 EPS. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis.

A number of brokerages have commented on ALGN. UBS Group set a $230.00 price objective on shares of Align Technology and gave the stock a “hold” rating in a research report on Friday, July 26th. ValuEngine raised shares of Align Technology from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Barclays raised their price target on shares of Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Zacks Investment Research cut shares of Align Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Stifel Nicolaus decreased their target price on shares of Align Technology from $360.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. Align Technology has a consensus rating of “Buy” and a consensus target price of $297.91.

Shares of NASDAQ:ALGN opened at $176.39 on Friday. The stock has a market cap of $14.19 billion, a P/E ratio of 35.85, a P/E/G ratio of 1.46 and a beta of 1.95. The firm has a fifty day moving average price of $228.57 and a 200 day moving average price of $269.46. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.85 and a quick ratio of 1.74. Align Technology has a 1-year low of $172.62 and a 1-year high of $398.88.

In other news, VP Vamsi Mohan Raj Pudipeddi acquired 1,100 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were bought at an average price of $188.11 per share, for a total transaction of $206,921.00. Following the completion of the purchase, the vice president now directly owns 1,100 shares of the company’s stock, valued at approximately $206,921. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph Lacob sold 30,000 shares of Align Technology stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $181.79, for a total transaction of $5,453,700.00. Following the sale, the director now owns 564 shares in the company, valued at approximately $102,529.56. The disclosure for this sale can be found here. Insiders have sold 45,108 shares of company stock worth $9,961,805 in the last quarter. Insiders own 1.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of ALGN. Barings LLC boosted its holdings in Align Technology by 105.4% in the second quarter. Barings LLC now owns 3,040 shares of the medical equipment provider’s stock worth $832,000 after purchasing an additional 1,560 shares during the period. Harvest Fund Management Co. Ltd boosted its holdings in Align Technology by 18.2% in the second quarter. Harvest Fund Management Co. Ltd now owns 832 shares of the medical equipment provider’s stock worth $228,000 after purchasing an additional 128 shares during the period. Maverick Capital Ltd. acquired a new position in Align Technology in the second quarter worth $4,513,000. Magnetar Financial LLC acquired a new position in Align Technology in the second quarter worth $564,000. Finally, Verition Fund Management LLC acquired a new position in Align Technology in the second quarter worth $919,000. Institutional investors own 84.15% of the company’s stock.

Align Technology Company Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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

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