Equities research analysts forecast that Align Technology, Inc. (NASDAQ:ALGN – Get Rating) will post $2.30 earnings per share for the current quarter, Zacks reports. Five analysts have provided estimates for Align Technology’s earnings. The highest EPS estimate is $2.47 and the lowest is $1.94. Align Technology reported earnings per share of $3.04 in the same quarter last year, which would suggest a negative year over year growth rate of 24.3%. The firm is scheduled to issue its next earnings report on Monday, January 1st.
On average, analysts expect that Align Technology will report full year earnings of $10.37 per share for the current fiscal year, with EPS estimates ranging from $8.70 to $13.59. For the next year, analysts forecast that the firm will report earnings of $13.05 per share, with EPS estimates ranging from $10.45 to $16.07. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Align Technology.
Align Technology (NASDAQ:ALGN – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.99 by $0.14. Align Technology had a net margin of 17.51% and a return on equity of 19.90%. During the same quarter in the prior year, the firm earned $2.51 EPS.
Several brokerages have commented on ALGN. Piper Sandler lowered their price objective on Align Technology from $600.00 to $440.00 in a research report on Thursday, April 28th. Morgan Stanley decreased their target price on Align Technology from $575.00 to $524.00 in a research report on Thursday, April 28th. 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 research note on Tuesday, April 26th. 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 research note on Tuesday, March 22nd. Finally, Stifel Nicolaus cut their price objective on Align Technology from $575.00 to $425.00 in a research note on Thursday, April 28th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $578.27.
In other Align Technology news, CEO Joseph M. Hogan purchased 6,700 shares of the firm’s stock in a transaction on Wednesday, May 4th. The stock was bought at an average cost of $298.48 per share, for a total transaction of $1,999,816.00. Following the completion of the purchase, the chief executive officer now owns 174,801 shares in the company, valued at approximately $52,174,602.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. KBC Group NV raised its position in Align Technology by 17.6% during the third quarter. KBC Group NV now owns 240,818 shares of the medical equipment provider’s stock valued at $160,247,000 after acquiring an additional 35,979 shares in the last quarter. Gyon Technologies Capital Management LP grew its holdings in Align Technology by 35.3% in the third quarter. Gyon Technologies Capital Management LP now owns 4,956 shares of the medical equipment provider’s stock valued at $3,298,000 after purchasing an additional 1,293 shares during the period. Polen Capital Management LLC grew its holdings in Align Technology by 1.3% in the third quarter. Polen Capital Management LLC now owns 1,656,405 shares of the medical equipment provider’s stock valued at $1,102,222,000 after purchasing an additional 21,800 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Align Technology by 19.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 20,930 shares of the medical equipment provider’s stock valued at $13,642,000 after purchasing an additional 3,361 shares during the period. Finally, Spire Wealth Management grew its holdings in Align Technology by 1.9% in the fourth quarter. Spire Wealth Management now owns 16,791 shares of the medical equipment provider’s stock valued at $11,071,000 after purchasing an additional 306 shares during the period. Institutional investors own 88.17% of the company’s stock.
NASDAQ:ALGN opened at $280.41 on Friday. The stock has a market cap of $22.10 billion, a P/E ratio of 31.54, a price-to-earnings-growth ratio of 4.96 and a beta of 1.76. The firm’s fifty day simple moving average is $406.62 and its 200 day simple moving average is $525.60. Align Technology has a twelve month low of $270.37 and a twelve month high of $737.45.
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.
See Also
Get a free copy of the Zacks research report on Align Technology (ALGN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.
Gloss