Align Technology, Inc. $ALGN Shares Acquired by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in Align Technology by 32.2% during the first quarter, acquiring an additional 202,616 shares, bringing their total to 832,313 shares valued at approximately $132.2 million.
• Align Technology's latest quarterly earnings report showed an EPS of $2.49, falling short of the consensus estimate of $2.57, with revenue dropping 1.6% year-over-year to $1.01 billion.
• Several analysts have recently cut their price targets for Align Technology, with a consensus average of $215.00, reflecting a cautious outlook amidst the company's stock buyback plan and recent earnings miss.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 32.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 832,313 shares of the medical equipment provider's stock after purchasing an additional 202,616 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 1.15% of Align Technology worth $132,221,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Align Technology by 2.2% in 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 raised its holdings in shares of Align Technology by 58.7% in the 1st quarter. Ninety One UK Ltd now owns 1,937,555 shares of the medical equipment provider's stock valued at $307,800,000 after purchasing an additional 716,954 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Align Technology by 12.7% in the 1st quarter. Invesco Ltd. now owns 1,219,715 shares of the medical equipment provider's stock valued at $193,764,000 after purchasing an additional 137,553 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Align Technology by 0.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 736,635 shares of the medical equipment provider's stock valued at $117,022,000 after purchasing an additional 4,789 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Align Technology by 510.3% in the 1st quarter. Federated Hermes Inc. now owns 707,514 shares of the medical equipment provider's stock valued at $112,396,000 after purchasing an additional 591,588 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Stifel Nicolaus cut their price target on shares of Align Technology from $275.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Piper Sandler cut their price target 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. Wells Fargo & Company cut their price target on shares of Align Technology from $246.00 to $199.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Mizuho set a $210.00 price target on shares of Align Technology in a research note on Thursday, July 31st. Finally, Zacks Research lowered shares of Align Technology from a "hold" rating to a "strong sell" rating in a research note on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $215.00.

Align Technology Stock Performance

Shares of Align Technology stock opened at $131.56 on Friday. Align Technology, Inc. has a 1 year low of $127.70 and a 1 year high of $262.87. The company has a market capitalization of $9.54 billion, a P/E ratio of 22.19, a PEG ratio of 1.53 and a beta of 1.65. The company's fifty day moving average is $160.62 and its two-hundred day moving average is $170.18.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings data 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). 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 for the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the business posted $2.41 earnings per share. The company's revenue for the quarter was down 1.6% on a year-over-year basis. Align Technology has set its Q3 2025 guidance at EPS. As a group, equities analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

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

Insider Transactions at Align Technology

In other Align Technology news, CEO Joseph M. Hogan acquired 7,576 shares of the stock in a transaction on Friday, August 1st. The shares were bought at an average cost of $131.49 per share, with a total value of $996,168.24. Following the transaction, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.66% of the company's stock.

About Align Technology

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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