2,662 Shares in Align Technology, Inc. $ALGN Bought by Stonehage Fleming Financial Services Holdings Ltd

Key Points

• Stonehage Fleming Financial Services Holdings Ltd acquired 2,662 shares of Align Technology, Inc., valued at approximately $504,000, during the second quarter.
• Align Technology recently faced a decline in analyst ratings, with several firms lowering their target prices, including Piper Sandler cutting it from $250.00 to $190.00.
• The company's Board of Directors has initiated a $200 million share repurchase program, indicating confidence in the stock's valuation, despite recent earnings miss and revenue decline.

Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,662 shares of the medical equipment provider's stock, valued at approximately $504,000.

Other institutional investors have also recently modified their holdings of the company. Teacher Retirement System of Texas purchased a new stake in shares of Align Technology in the first quarter worth $1,647,000. Asset Management One Co. Ltd. lifted its holdings in Align Technology by 14.5% in 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. Czech National Bank raised its stake in shares of Align Technology by 3.3% in the second quarter. Czech National Bank now owns 16,654 shares of the medical equipment provider's stock worth $3,153,000 after buying an additional 537 shares during the period. Acadian Asset Management LLC bought a new position in shares of Align Technology in the first quarter worth about $20,194,000. Finally, Parallel Advisors LLC raised its stake in shares of Align Technology by 66.0% in the second quarter. Parallel Advisors LLC now owns 1,044 shares of the medical equipment provider's stock worth $198,000 after buying an additional 415 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on ALGN shares. Piper Sandler decreased their target price on Align Technology from $250.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Weiss Ratings cut Align Technology from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday. Jefferies Financial Group reiterated a "hold" rating and issued a $140.00 target price (down previously from $215.00) on shares of Align Technology in a report on Friday. Evercore ISI decreased their price target on Align Technology from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company decreased their price target on Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Align Technology presently has an average rating of "Hold" and a consensus price target of $200.00.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $125.79 on Friday. The business's 50-day moving average is $135.61 and its 200 day moving average is $164.38. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $246.19. The firm has a market capitalization of $9.12 billion, a P/E ratio of 21.21, a P/E/G ratio of 1.43 and a beta of 1.70.

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

Align Technology declared that its Board of Directors has initiated a share repurchase program on Tuesday, August 5th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the medical equipment provider to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Insider Activity at Align Technology

In other Align Technology news, CEO Joseph M. Hogan purchased 7,576 shares of the stock in a transaction on Friday, August 1st. The shares were bought at an average price of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the transaction, the chief executive officer owned 184,945 shares of the company's stock, valued at $24,318,418.05. This trade represents a 4.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.66% of the stock is owned by insiders.

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.

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