Militia Capital Partners LP Takes Position in Align Technology, Inc. $ALGN

Key Points

• Militia Capital Partners LP acquired 23,100 shares of Align Technology, valued at approximately $3.67 million, making it the firm's 9th biggest holding.
• Align Technology reported Q2 earnings of $2.49 per share, missing estimates by $0.08, with a revenue of $1.01 billion versus expected $1.06 billion.
• The company authorized a $200 million stock buyback, indicating its belief that shares are undervalued.

Militia Capital Partners LP bought a new position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 23,100 shares of the medical equipment provider's stock, valued at approximately $3,670,000. Align Technology accounts for 2.9% of Militia Capital Partners LP's investment portfolio, making the stock its 9th largest holding.

Several other hedge funds also recently bought and sold shares of ALGN. Compagnie Lombard Odier SCmA acquired a new stake in Align Technology in the first quarter worth $32,000. Center for Financial Planning Inc. bought a new position in Align Technology in the first quarter valued at $35,000. SVB Wealth LLC bought a new position in Align Technology in the first quarter valued at $36,000. Orion Capital Management LLC bought a new position in shares of Align Technology in the 4th quarter valued at about $42,000. Finally, Mather Group LLC. grew its position in shares of Align Technology by 375.0% in the 1st quarter. Mather Group LLC. now owns 437 shares of the medical equipment provider's stock valued at $69,000 after acquiring an additional 345 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Down 3.2%

Shares of NASDAQ:ALGN traded down $4.35 during midday trading on Friday, hitting $131.56. The stock had a trading volume of 718,868 shares, compared to its average volume of 1,244,872. The company's 50-day moving average price is $160.62 and its 200-day moving average price is $169.92. The company has a market capitalization of $9.54 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 1.48 and a beta of 1.65. Align Technology, Inc. has a fifty-two week low of $127.70 and a fifty-two week high of $262.87.

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

Align Technology announced that its board has approved a share 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 repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other Align Technology news, CEO Joseph M. Hogan bought 7,576 shares of Align Technology stock in a transaction on Friday, August 1st. The shares were purchased at an average cost of $131.49 per share, with a total value of $996,168.24. Following the acquisition, the chief executive officer directly owned 184,945 shares of the company's stock, valued at $24,318,418.05. The trade was a 4.27% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on ALGN shares. Wells Fargo & Company decreased their price objective on shares of Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Mizuho set a $210.00 target price on shares of Align Technology in a research note on Thursday, July 31st. Morgan Stanley restated an "equal weight" rating and set a $154.00 target price (down previously from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. Piper Sandler dropped their price objective on shares of Align Technology from $250.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Finally, Evercore ISI lifted their price objective on shares of Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $215.00.

Align Technology Company 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.