Algert Global LLC Acquires 42,215 Shares of Align Technology, Inc. $ALGN

Key Points

• Algert Global LLC significantly increased its stake in Align Technology, Inc. by 581.3%, acquiring a total of 49,477 shares valued at approximately $7.86 million.
• CEO Joseph M. Hogan purchased 7,576 shares of Align Technology, increasing his ownership by 4.27% and valuing his total shares at around $24.32 million.
• Analysts have set varying price targets for Align Technology, with a consensus rating of "Moderate Buy" and an average price target of $215.00, reflecting mixed sentiment in the market.

Algert Global LLC raised its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 581.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,477 shares of the medical equipment provider's stock after acquiring an additional 42,215 shares during the quarter. Algert Global LLC owned about 0.07% of Align Technology worth $7,860,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Align Technology by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 8,441,592 shares of the medical equipment provider's stock valued at $1,341,031,000 after purchasing an additional 185,187 shares in the last quarter. Ninety One UK Ltd increased its position in Align Technology by 58.7% during the first quarter. Ninety One UK Ltd now owns 1,937,555 shares of the medical equipment provider's stock worth $307,800,000 after buying an additional 716,954 shares during the last quarter. Invesco Ltd. raised its holdings in Align Technology by 12.7% during the first quarter. Invesco Ltd. now owns 1,219,715 shares of the medical equipment provider's stock valued at $193,764,000 after buying an additional 137,553 shares in the last quarter. Northern Trust Corp raised its holdings in Align Technology by 13.3% during the fourth quarter. Northern Trust Corp now owns 736,936 shares of the medical equipment provider's stock valued at $153,659,000 after buying an additional 86,493 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Align Technology by 35.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 731,846 shares of the medical equipment provider's stock worth $152,597,000 after buying an additional 190,711 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Trading Down 2.0%

Align Technology stock traded down $2.91 on Thursday, reaching $140.67. 1,668,228 shares of the stock were exchanged, compared to its average volume of 1,227,715. The stock has a market cap of $10.20 billion, a PE ratio of 23.72, a PEG ratio of 1.62 and a beta of 1.61. Align Technology, Inc. has a twelve month low of $127.70 and a twelve month high of $262.87. The firm has a fifty day moving average price of $176.75 and a two-hundred day moving average price of $177.98.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its 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). 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 in the previous year, the business posted $2.41 EPS. The firm's quarterly revenue was down 1.6% on a year-over-year basis. Align Technology has set its Q3 2025 guidance at EPS. Equities 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 approved a share repurchase plan on Tuesday, May 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical equipment provider to purchase up to 7.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ALGN. Mizuho set a $210.00 price objective on Align Technology in a report on Thursday, July 31st. Morgan Stanley reaffirmed an "equal weight" rating and set a $154.00 target price (down previously from $249.00) on shares of Align Technology in a research report on Thursday, July 31st. HSBC cut Align Technology from a "buy" rating to a "hold" rating and decreased their target price for the stock from $290.00 to $170.00 in a research report on Friday, April 25th. Hsbc Global Res cut Align Technology from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Finally, Wells Fargo & Company decreased their target price on Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $215.00.

Insider Activity at Align Technology

In other news, CEO Joseph M. Hogan bought 7,576 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was acquired 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 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company's stock.

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.