Align Technology, Inc. $ALGN Position Raised by UniSuper Management Pty Ltd

Key Points

• UniSuper Management Pty Ltd increased its stake in Align Technology by 22.5%, acquiring an additional 2,143 shares, bringing its total holdings to approximately $1.86 million.
• Align Technology reported a miss in quarterly earnings, with an EPS of $2.49, falling short of the expected $2.57, and a revenue of $1.01 billion, down from $1.06 billion consensus estimate.
• The company has initiated a $200 million stock buyback program, signaling management's belief that its shares are currently undervalued.

UniSuper Management Pty Ltd raised its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 22.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 11,686 shares of the medical equipment provider's stock after buying an additional 2,143 shares during the quarter. UniSuper Management Pty Ltd's holdings in Align Technology were worth $1,856,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new position in Align Technology during the 1st quarter valued at about $1,647,000. Asset Management One Co. Ltd. boosted its stake in Align Technology by 14.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 31,624 shares of the medical equipment provider's stock valued at $5,024,000 after purchasing an additional 4,009 shares during the period. American Assets Inc. acquired a new position in Align Technology during the 4th quarter valued at about $417,000. Janney Montgomery Scott LLC boosted its stake in Align Technology by 48.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,120 shares of the medical equipment provider's stock valued at $1,608,000 after purchasing an additional 3,325 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Align Technology by 44.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,380 shares of the medical equipment provider's stock valued at $1,490,000 after purchasing an additional 2,881 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Trading Down 2.2%

Shares of Align Technology stock opened at $132.94 on Thursday. The company's 50-day moving average price is $163.15 and its two-hundred day moving average price is $170.94. Align Technology, Inc. has a 52 week low of $127.70 and a 52 week high of $262.87. The stock has a market cap of $9.64 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 1.53 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $2.49 EPS for the quarter, missing the consensus estimate of $2.57 by ($0.08). Align Technology had a return on equity of 13.36% and a net margin of 11.04%.The business 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 earnings per share. Align Technology'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, equities analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

ALGN has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on shares of Align Technology from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Morgan Stanley restated an "equal weight" rating and set a $154.00 price objective (down from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. 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 research note on Thursday, July 31st. Mizuho set a $210.00 target price on Align Technology in a research report on Thursday, July 31st. Finally, Stifel Nicolaus cut their target price on Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $215.00.

Insider Buying and Selling

In other Align Technology news, CEO Joseph M. Hogan purchased 7,576 shares of the company's stock in a transaction on Friday, August 1st. The shares were purchased at an average cost 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 in the company, valued at $24,318,418.05. The trade was a 4.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.66% of the company's stock.

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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