What is Leerink Partnrs’ Forecast for ALGN FY2024 Earnings?

Align Technology, Inc. (NASDAQ:ALGN) – Investment analysts at Leerink Partnrs reduced their FY2024 EPS estimates for shares of Align Technology in a note issued to investors on Monday, October 14th. Leerink Partnrs analyst M. Cherny now expects that the medical equipment provider will post earnings of $7.59 per share for the year, down from their previous estimate of $7.61. The consensus estimate for Align Technology’s current full-year earnings is $7.61 per share. Leerink Partnrs also issued estimates for Align Technology’s Q4 2024 earnings at $2.08 EPS, Q2 2025 earnings at $2.04 EPS, FY2025 earnings at $8.25 EPS, FY2026 earnings at $10.38 EPS and FY2027 earnings at $11.90 EPS.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company posted $1.73 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year.

A number of other equities research analysts have also issued reports on ALGN. Robert W. Baird decreased their target price on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Stifel Nicolaus decreased their target price on shares of Align Technology from $350.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Piper Sandler decreased their target price on shares of Align Technology from $315.00 to $285.00 and set an “overweight” rating for the company in a research note on Thursday. Needham & Company LLC assumed coverage on shares of Align Technology in a research note on Thursday, October 10th. They set a “hold” rating for the company. Finally, Morgan Stanley decreased their target price on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Align Technology presently has an average rating of “Hold” and an average target price of $291.25.

Align Technology Stock Down 0.0 %

Shares of NASDAQ:ALGN opened at $216.02 on Thursday. The firm has a fifty day moving average of $234.48 and a two-hundred day moving average of $254.22. The firm has a market capitalization of $16.26 billion, a P/E ratio of 35.59, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64. Align Technology has a 12-month low of $176.34 and a 12-month high of $335.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ALGN. Richard W. Paul & Associates LLC increased its holdings in shares of Align Technology by 28.3% during the 3rd quarter. Richard W. Paul & Associates LLC now owns 2,809 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 619 shares during the period. Laurus Investment Counsel Inc. increased its holdings in shares of Align Technology by 29.1% during the 3rd quarter. Laurus Investment Counsel Inc. now owns 41,565 shares of the medical equipment provider’s stock worth $10,571,000 after purchasing an additional 9,380 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Align Technology by 2.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,079 shares of the medical equipment provider’s stock worth $1,800,000 after purchasing an additional 136 shares during the period. Marathon Asset Management Ltd increased its holdings in shares of Align Technology by 1.8% during the 3rd quarter. Marathon Asset Management Ltd now owns 154,869 shares of the medical equipment provider’s stock worth $39,387,000 after purchasing an additional 2,776 shares during the period. Finally, Bleakley Financial Group LLC increased its holdings in shares of Align Technology by 30.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,114 shares of the medical equipment provider’s stock worth $283,000 after purchasing an additional 261 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Activity at Align Technology

In other news, Director C Raymond Larkin, Jr. bought 6,500 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the transaction, the director now directly owns 28,247 shares in the company, valued at approximately $6,647,366.51. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.62% of the stock is owned by company insiders.

About Align Technology

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.