Carmignac Gestion Grows Position in Align Technology, Inc. $ALGN

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Carmignac Gestion lifted its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,774 shares of the medical equipment provider's stock after buying an additional 3,808 shares during the period. Carmignac Gestion owned approximately 0.08% of Align Technology worth $9,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new position in shares of Align Technology in the fourth quarter worth about $42,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Align Technology in the first quarter worth about $32,000. Center for Financial Planning Inc. purchased a new position in shares of Align Technology in the first quarter worth about $35,000. Mather Group LLC. grew its holdings 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 purchasing an additional 345 shares during the period. Finally, Covestor Ltd grew its holdings in shares of Align Technology by 18.8% in the first quarter. Covestor Ltd now owns 493 shares of the medical equipment provider's stock valued at $78,000 after purchasing an additional 78 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Hsbc Global Res lowered shares of Align Technology from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. HSBC lowered shares of Align Technology from a "buy" rating to a "hold" rating and dropped their price objective for the company from $290.00 to $170.00 in a report on Friday, April 25th. Piper Sandler dropped their price objective on shares of Align Technology from $250.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. UBS Group dropped their price objective on shares of Align Technology from $240.00 to $215.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a report on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $215.00.

Insider Activity

In other Align Technology news, CEO Joseph M. Hogan purchased 7,576 shares of Align Technology stock in a transaction dated Friday, August 1st. The shares were acquired at an average price of $131.49 per share, with a total value of $996,168.24. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.66% of the company's stock.

Align Technology Trading Up 6.3%

Align Technology stock traded up $8.90 during midday trading on Friday, reaching $149.57. 1,502,605 shares of the stock traded hands, compared to its average volume of 2,609,758. The firm has a market cap of $10.84 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 1.59 and a beta of 1.61. The company has a 50-day simple moving average of $175.93 and a two-hundred day simple moving average of $177.47. Align Technology, Inc. has a 12-month low of $127.70 and a 12-month high of $262.87.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $2.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.57 by ($0.08). The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.06 billion. Align Technology had a return on equity of 13.36% and a net margin of 11.04%.The firm's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $2.41 earnings per share. Align Technology has set its Q3 2025 guidance at EPS. Equities research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to buy up to 7.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are 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.