3,168 Shares in Align Technology, Inc. $ALGN Purchased by Petrus Trust Company LTA

Key Points

• Petrus Trust Company LTA acquired 3,168 shares of Align Technology, Inc., valued at approximately $503,000, during the first quarter, indicating renewed interest from institutional investors.
• CEO Joseph M. Hogan purchased an additional 7,576 shares in August for around $996,168, boosting his ownership by 4.27% to nearly $24.3 million.
• Align Technology declared a $200 million stock buyback program, suggesting confidence in the company's long-term value amid recent earnings misses and reduced analyst price targets.

Petrus Trust Company LTA acquired a new position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,168 shares of the medical equipment provider's stock, valued at approximately $503,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Compagnie Lombard Odier SCmA purchased a new stake in shares of Align Technology during the first quarter valued at about $32,000. Center for Financial Planning Inc. purchased a new stake in shares of Align Technology during the first quarter valued at about $35,000. SVB Wealth LLC purchased a new stake in shares of Align Technology during the first quarter valued at about $36,000. Orion Capital Management LLC purchased a new stake in shares of Align Technology during the fourth quarter valued at about $42,000. Finally, Mather Group LLC. lifted its position in shares of Align Technology by 375.0% during the first quarter. Mather Group LLC. now owns 437 shares of the medical equipment provider's stock valued at $69,000 after buying an additional 345 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Align Technology 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 bought at an average price of $131.49 per share, for a total transaction of $996,168.24. Following the acquisition, the chief executive officer owned 184,945 shares in the company, valued at $24,318,418.05. This represents a 4.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.66% of the company's stock.

Align Technology Stock Up 3.3%

ALGN opened at $139.12 on Friday. Align Technology, Inc. has a 52-week low of $127.70 and a 52-week high of $262.87. The company has a market cap of $10.08 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 1.57 and a beta of 1.65. The firm's 50-day moving average price is $166.65 and its 200-day moving average price is $172.01.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings data 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). Align Technology had a net margin of 11.04% and a return on equity of 13.36%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the company earned $2.41 EPS. The business's revenue was down 1.6% compared to the same quarter last year. Align Technology has set its Q3 2025 guidance at EPS. On average, research analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

ALGN has been the subject of several analyst reports. Stifel Nicolaus decreased their price target on shares of Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Wells Fargo & Company decreased their price target 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. Zacks Research lowered shares of Align Technology from a "hold" rating to a "strong sell" rating in a research report on Monday, September 1st. Mizuho set a $210.00 price target on shares of Align Technology in a research report on Thursday, July 31st. Finally, Piper Sandler cut their price objective 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. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.

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