127,168 Shares in Align Technology, Inc. $ALGN Purchased by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC recently acquired 127,168 shares of Align Technology, valued at approximately $20.19 million, increasing their stake to about 0.18% of the company.
• Align Technology reported a quarterly earnings miss, posting $2.49 EPS compared to the estimated $2.57 and experienced a 1.6% decline in revenue year-over-year.
• The company's board has authorized a $200 million share buyback plan, indicating confidence in the stock's valuation, as institutional investors own 88.43% of Align Technology's stock.

Acadian Asset Management LLC acquired a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 127,168 shares of the medical equipment provider's stock, valued at approximately $20,194,000. Acadian Asset Management LLC owned approximately 0.18% of Align Technology as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas bought a new stake in Align Technology during the first quarter worth approximately $1,647,000. Asset Management One Co. Ltd. boosted its holdings in Align Technology by 14.5% during the first quarter. Asset Management One Co. Ltd. now owns 31,624 shares of the medical equipment provider's stock valued at $5,024,000 after acquiring an additional 4,009 shares during the period. American Assets Inc. bought a new position in shares of Align Technology in the fourth quarter worth about $417,000. Janney Montgomery Scott LLC lifted its position in shares of Align Technology by 48.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,120 shares of the medical equipment provider's stock worth $1,608,000 after purchasing an additional 3,325 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Align Technology by 44.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,380 shares of the medical equipment provider's stock valued at $1,490,000 after acquiring an additional 2,881 shares during the period. 88.43% of the stock is owned by institutional investors.

Insider Activity at Align Technology

In other news, CEO Joseph M. Hogan purchased 7,576 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average cost of $131.49 per share, for a total transaction of $996,168.24. Following the transaction, the chief executive officer directly owned 184,945 shares of the company's stock, valued at approximately $24,318,418.05. The trade was a 4.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.66% of the stock is currently owned by company insiders.

Align Technology Trading Up 0.4%

Shares of ALGN traded up $0.56 on Wednesday, reaching $132.38. 191,975 shares of the company's stock were exchanged, compared to its average volume of 1,221,511. Align Technology, Inc. has a 12 month low of $127.70 and a 12 month high of $262.87. The stock has a market capitalization of $9.60 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 1.48 and a beta of 1.65. The business has a 50 day moving average price of $158.09 and a two-hundred day moving average price of $169.27.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its earnings results on Wednesday, July 30th. The medical equipment provider reported $2.49 EPS for the quarter, missing analysts' consensus estimates of $2.57 by ($0.08). Align Technology had a return on equity of 13.36% and a net margin of 11.04%.The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm posted $2.41 EPS. Align Technology's revenue was down 1.6% on a year-over-year basis. Align Technology has set its Q3 2025 guidance at EPS. Equities research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology announced that its board has approved a stock buyback plan on Tuesday, August 5th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the medical equipment provider to buy up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ALGN shares. Evercore ISI lifted their target price on Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Mizuho set a $210.00 price objective on Align Technology in a report on Thursday, July 31st. Piper Sandler lowered their target price on shares of Align Technology from $250.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Zacks Research cut shares of Align Technology from a "hold" rating to a "strong sell" rating in a research report on Monday, September 1st. Finally, Stifel Nicolaus decreased their price objective on shares of Align Technology from $275.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $215.00.

Align Technology Profile

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.