45,026 Shares in Align Technology, Inc. $ALGN Acquired by Grimes & Company Inc.

Key Points

• Grimes & Company Inc. acquired 45,026 shares of Align Technology, Inc. for approximately $8.5 million, resulting in a total ownership of around 0.06% of the company by the end of the last quarter.
• The company's CEO, Joseph M. Hogan, purchased 7,576 shares worth approximately $996,168, increasing his stake in Align Technology by 4.27%.
• Align Technology's stock has seen various changes in analyst ratings, with a consensus rating of Moderate Buy and an average price target of $215.00.

Grimes & Company Inc. purchased a new position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 45,026 shares of the medical equipment provider's stock, valued at approximately $8,525,000. Grimes & Company Inc. owned about 0.06% of Align Technology at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Redmond Asset Management LLC raised its holdings in Align Technology by 2.0% in the 1st quarter. Redmond Asset Management LLC now owns 2,769 shares of the medical equipment provider's stock valued at $440,000 after acquiring an additional 54 shares in the last quarter. Horizon Investments LLC raised its holdings in Align Technology by 6.2% in the 1st quarter. Horizon Investments LLC now owns 1,018 shares of the medical equipment provider's stock valued at $162,000 after acquiring an additional 59 shares in the last quarter. Washington Trust Advisors Inc. raised its holdings in Align Technology by 5.2% in the 1st quarter. Washington Trust Advisors Inc. now owns 1,205 shares of the medical equipment provider's stock valued at $191,000 after acquiring an additional 60 shares in the last quarter. Covestor Ltd raised its holdings in Align Technology by 18.8% in the 1st quarter. Covestor Ltd now owns 493 shares of the medical equipment provider's stock valued at $78,000 after acquiring an additional 78 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Align Technology by 42.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider's stock valued at $59,000 after acquiring an additional 92 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Align Technology

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

Analyst Upgrades and Downgrades

ALGN has been the subject of several analyst reports. Zacks Research raised Align Technology from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 30th. Stifel Nicolaus dropped their price objective on Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Mizuho set a $210.00 price objective on Align Technology in a report on Thursday, July 31st. Wells Fargo & Company lowered their price target on Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Align Technology in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $215.00.

Align Technology Trading Up 2.7%

NASDAQ ALGN opened at $132.17 on Monday. The business's 50-day moving average price is $140.20 and its two-hundred day moving average price is $165.69. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $246.19. The firm has a market capitalization of $9.58 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 1.49 and a beta of 1.70.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly 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 net margin of 11.04% and a return on equity of 13.36%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm posted $2.41 EPS. The company's quarterly revenue was down 1.6% on a year-over-year basis. Align Technology has set its Q3 2025 guidance at EPS. As a group, analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Align Technology announced that its board has approved a stock repurchase program on Tuesday, August 5th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the medical equipment provider to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

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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