Leerink Swann Comments on Align Technology, Inc.’s Q3 2017 Earnings (NASDAQ:ALGN)

Align Technology, Inc. (NASDAQ:ALGN) – Research analysts at Leerink Swann raised their Q3 2017 earnings per share (EPS) estimates for shares of Align Technology in a note issued to investors on Friday. Leerink Swann analyst R. Newitter now anticipates that the medical equipment provider will earn $0.80 per share for the quarter, up from their previous forecast of $0.79. Leerink Swann has a “Outperform” rating and a $199.00 price objective on the stock. Leerink Swann also issued estimates for Align Technology’s FY2017 earnings at $3.39 EPS, Q1 2018 earnings at $0.86 EPS, Q2 2018 earnings at $1.00 EPS, Q3 2018 earnings at $1.11 EPS, Q4 2018 earnings at $1.19 EPS, FY2018 earnings at $4.15 EPS, FY2019 earnings at $5.12 EPS and FY2020 earnings at $6.14 EPS.

ALGN has been the subject of a number of other research reports. Stifel Nicolaus restated a “buy” rating and issued a $130.00 target price on shares of Align Technology in a report on Tuesday, April 11th. Bank of America Corporation upgraded Align Technology from a “neutral” rating to a “buy” rating and increased their target price for the company from $175.00 to $193.00 in a report on Friday. Robert W. Baird upgraded Align Technology from a “neutral” rating to an “outperform” rating and increased their target price for the company from $105.00 to $155.00 in a report on Friday, April 28th. Credit Suisse Group restated an “outperform” rating and issued a $170.00 target price (up previously from $140.00) on shares of Align Technology in a report on Thursday, July 13th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $150.00 target price on shares of Align Technology in a report on Thursday, June 1st. Ten investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus target price of $173.90.

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Shares of Align Technology (NASDAQ:ALGN) opened at 167.23 on Monday. Align Technology has a 12 month low of $83.27 and a 12 month high of $173.79. The stock has a 50 day moving average price of $152.97 and a 200-day moving average price of $125.34. The stock has a market cap of $13.41 billion, a P/E ratio of 57.27 and a beta of 1.53.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.12. The business had revenue of $356.50 million during the quarter, compared to the consensus estimate of $343.43 million. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The business’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share.

In other 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 value of $144,000.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Lacob sold 50,000 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $144.98, for a total transaction of $7,249,000.00. The disclosure for this sale can be found here. Insiders sold 54,874 shares of company stock worth $7,950,701 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Honkamp Krueger Financial Services Inc. increased its position in Align Technology by 1.7% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 2,037 shares of the medical equipment provider’s stock valued at $306,000 after buying an additional 34 shares during the last quarter. Intellectus Partners LLC increased its position in Align Technology by 1.2% in the first quarter. Intellectus Partners LLC now owns 3,498 shares of the medical equipment provider’s stock valued at $401,000 after buying an additional 41 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Align Technology by 2.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,917 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 52 shares during the last quarter. Security Asset Management increased its position in Align Technology by 0.5% in the second quarter. Security Asset Management now owns 12,735 shares of the medical equipment provider’s stock valued at $1,912,000 after buying an additional 65 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Align Technology by 6.9% in the first quarter. Van ECK Associates Corp now owns 1,057 shares of the medical equipment provider’s stock valued at $121,000 after buying an additional 68 shares during the last quarter. 87.34% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Company Profile

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.

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

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