Alapocas Investment Partners Inc. Sells 2,035 Shares of Align Technology, Inc. $ALGN

Key Points

• Alapocas Investment Partners Inc. reduced its stake in Align Technology, Inc. by 5.7%, selling 2,035 shares, and now holds 33,774 shares valued at approximately $6.39 million.
• Align Technology's stock performed below expectations, reporting an earnings per share (EPS) of $2.49, missing the consensus estimate of $2.57, alongside a revenue of $1.01 billion for the quarter.
• The company announced a new $200 million stock buyback program, indicating that the board believes the shares are undervalued, representing a potential for stock price appreciation.

Alapocas Investment Partners Inc. trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,774 shares of the medical equipment provider's stock after selling 2,035 shares during the quarter. Align Technology makes up about 4.1% of Alapocas Investment Partners Inc.'s investment portfolio, making the stock its 12th largest holding. Alapocas Investment Partners Inc.'s holdings in Align Technology were worth $6,394,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Cromwell Holdings LLC lifted its stake in Align Technology by 2,900.0% in the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider's stock worth $34,000 after purchasing an additional 174 shares in the last quarter. Center for Financial Planning Inc. purchased a new stake in Align Technology during the first quarter valued at $35,000. SVB Wealth LLC purchased a new stake in Align Technology during the first quarter valued at $36,000. Farther Finance Advisors LLC raised its stake in Align Technology by 42.2% during the second quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider's stock valued at $59,000 after purchasing an additional 92 shares in the last quarter. Finally, Mather Group LLC. raised its stake in shares of Align Technology by 375.0% in the first 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.

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $134.93 on Tuesday. Align Technology, Inc. has a one year low of $122.00 and a one year high of $246.19. The firm has a fifty day moving average of $134.72 and a 200 day moving average of $163.23. The firm has a market cap of $9.78 billion, a PE ratio of 22.75, a PEG ratio of 1.48 and a beta of 1.70.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its 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 business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.06 billion. Align Technology had a return on equity of 13.36% and a net margin of 11.04%.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 earned $2.41 EPS. Align Technology has set its Q3 2025 guidance at EPS. On average, equities analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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

Insider Buying and Selling

In other Align Technology news, CEO Joseph M. Hogan purchased 7,576 shares of the business's stock in a transaction on Friday, August 1st. The shares were bought at an average cost of $131.49 per share, for a total transaction 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 ownership of the stock. The transaction 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.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Zacks Research raised shares of Align Technology from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 30th. Wells Fargo & Company lowered their price target on shares of Align Technology from $246.00 to $199.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Jefferies Financial Group restated a "hold" rating and issued a $140.00 price target (down from $215.00) on shares of Align Technology in a report on Friday, October 10th. Leerink Partners lowered their target price on shares of Align Technology from $188.00 to $172.00 and set an "outperform" rating for the company in a research note on Tuesday, October 14th. Finally, Piper Sandler decreased 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $182.67.

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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