Align Technology, Inc. (NASDAQ:ALGN) - Equities research analysts at Northcoast Research lifted their FY2017 EPS estimates for shares of Align Technology in a report issued on Thursday. Northcoast Research analyst E. Snyder now expects that the medical equipment provider will post earnings per share of $3.31 for the year, up from their prior forecast of $3.29. Northcoast Research currently has a “Buy” rating and a $186.00 target price on the stock. Northcoast Research also issued estimates for Align Technology’s Q4 2017 earnings at $0.89 EPS, Q4 2018 earnings at $1.22 EPS and FY2018 earnings at $4.23 EPS.
Other analysts have also issued research reports about the stock. Stifel Nicolaus reissued a “buy” rating and issued a $200.00 price objective (up previously from $145.00) on shares of Align Technology in a research report on Friday, June 23rd. Jefferies Group LLC reissued a “buy” rating and issued a $150.00 price objective on shares of Align Technology in a research report on Thursday, June 1st. Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $128.00 price objective on the stock in a research report on Tuesday, April 11th. Robert W. Baird raised shares of Align Technology from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $105.00 to $155.00 in a research report on Friday, April 28th. Finally, Leerink Swann reissued an “outperform” rating and issued a $149.00 price objective (up previously from $118.00) on shares of Align Technology in a research report on Saturday, April 29th. Eight research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $170.63.
Shares of Align Technology (NASDAQ:ALGN) opened at 158.87 on Friday. The stock has a market capitalization of $12.76 billion, a PE ratio of 59.28 and a beta of 1.53. Align Technology has a 52 week low of $82.60 and a 52 week high of $160.93. The stock’s 50 day moving average is $150.34 and its 200 day moving average is $121.76.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Thursday, April 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.18. Align Technology had a net margin of 18.98% and a return on equity of 22.95%. The company had revenue of $310.34 million during the quarter, compared to analysts’ expectations of $297.46 million. During the same period in the previous year, the company earned $0.50 EPS. The business’s quarterly revenue was up 30.0% compared to the same quarter last year.
A number of hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. purchased a new stake in Align Technology during the fourth quarter valued at about $506,000. Norges Bank purchased a new stake in Align Technology during the fourth quarter valued at about $40,524,000. Quadrature Capital Ltd purchased a new stake in Align Technology during the fourth quarter valued at about $934,000. UBS Asset Management Americas Inc. raised its stake in Align Technology by 136.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 129,994 shares of the medical equipment provider’s stock valued at $12,497,000 after buying an additional 74,974 shares during the period. Finally, Highbridge Capital Management LLC raised its stake in Align Technology by 238.8% in the fourth quarter. Highbridge Capital Management LLC now owns 7,363 shares of the medical equipment provider’s stock valued at $707,000 after buying an additional 5,190 shares during the period. 87.81% of the stock is currently owned by hedge funds and other institutional investors.
In other Align Technology news, VP Sreelakshmi Kolli sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $144.00, for a total transaction of $144,000.00. Following the sale, the vice president now directly owns 23,785 shares of the company’s stock, valued at $3,425,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Lacob sold 3,874 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $143.96, for a total transaction of $557,701.04. The disclosure for this sale can be found here. In the last three months, insiders sold 54,874 shares of company stock worth $7,950,701. 2.00% of the stock is currently owned by insiders.
About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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