$592.46 Million in Sales Expected for Align Technology, Inc. (NASDAQ:ALGN) This Quarter

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Equities analysts expect Align Technology, Inc. (NASDAQ:ALGN) to announce $592.46 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Align Technology’s earnings, with estimates ranging from $585.00 million to $596.60 million. Align Technology posted sales of $505.29 million in the same quarter last year, which would indicate a positive year over year growth rate of 17.3%. The firm is expected to report its next quarterly earnings results after the market closes on Wednesday, October 23rd.

On average, analysts expect that Align Technology will report full year sales of $2.39 billion for the current fiscal year, with estimates ranging from $2.37 billion to $2.42 billion. For the next year, analysts anticipate that the firm will report sales of $2.91 billion, with estimates ranging from $2.84 billion to $2.97 billion. Zacks’ sales averages are an average based on a survey of sell-side 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.13. The company had revenue of $600.70 million for the quarter, compared to analysts’ expectations of $599.86 million. Align Technology had a return on equity of 29.26% and a net margin of 19.06%. Align Technology’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 earnings per share.

A number of brokerages recently commented on ALGN. Credit Suisse Group dropped their price target on Align Technology from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Robert W. Baird dropped their price target on Align Technology from $336.00 to $259.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. BidaskClub upgraded Align Technology from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. UBS Group set a $230.00 target price on Align Technology and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Piper Jaffray Companies set a $240.00 target price on Align Technology and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $265.27.

Align Technology stock traded up $6.15 during mid-day trading on Friday, reaching $200.32. 118,909 shares of the company’s stock were exchanged, compared to its average volume of 1,152,290. The business’s fifty day simple moving average is $179.76 and its 200 day simple moving average is $252.10. The firm has a market capitalization of $14.72 billion, a PE ratio of 40.68, a P/E/G ratio of 1.51 and a beta of 2.00. Align Technology has a one year low of $169.84 and a one year high of $339.95. The company has a quick ratio of 1.74, a current ratio of 1.85 and a debt-to-equity ratio of 0.04.

In related news, Director Joseph Lacob sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $181.79, for a total transaction of $5,453,700.00. Following the sale, the director now directly owns 564 shares in the company, valued at approximately $102,529.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Vamsi Mohan Raj Pudipeddi acquired 1,100 shares of the firm’s stock in a transaction that occurred on 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 owns 1,100 shares in the company, valued at approximately $206,921. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 44,157 shares of company stock worth $7,976,448. 1.30% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Highline Capital Management L.P. purchased a new position in shares of Align Technology in the 2nd quarter worth about $27,507,000. Banco Santander S.A. raised its position in Align Technology by 49.9% during the 2nd quarter. Banco Santander S.A. now owns 75,633 shares of the medical equipment provider’s stock valued at $20,701,000 after purchasing an additional 25,173 shares during the last quarter. BBT Capital Management LLC bought a new position in Align Technology during the 2nd quarter valued at approximately $241,000. Invesco Ltd. raised its position in Align Technology by 24.9% during the 2nd quarter. Invesco Ltd. now owns 1,507,453 shares of the medical equipment provider’s stock valued at $412,590,000 after purchasing an additional 300,590 shares during the last quarter. Finally, Brightworth raised its position in Align Technology by 12.0% during the 2nd quarter. Brightworth now owns 11,478 shares of the medical equipment provider’s stock valued at $3,142,000 after purchasing an additional 1,233 shares during the last quarter. Institutional investors own 88.26% 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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