Braidwell LP Purchases 155,351 Shares of Align Technology, Inc. $ALGN

Key Points

• Braidwell LP increased its stake in Align Technology by 41.4% in the first quarter, owning over 530,000 shares worth approximately $84.28 million.
• Align Technology experienced a revenue decline of 1.6% year-over-year and reported an EPS of $2.49, missing analysts’ expectations.
• Equity analysts have cut their price targets on Align Technology, with the average target now at $215, reflecting a shift in market sentiment.

Braidwell LP raised its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 41.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 530,530 shares of the medical equipment provider's stock after acquiring an additional 155,351 shares during the period. Align Technology comprises 3.0% of Braidwell LP's holdings, making the stock its 12th biggest holding. Braidwell LP owned approximately 0.73% of Align Technology worth $84,280,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of Align Technology by 4.0% during the first quarter. Royal Bank of Canada now owns 176,811 shares of the medical equipment provider's stock valued at $28,088,000 after purchasing an additional 6,837 shares in the last quarter. Graham Capital Management L.P. boosted its stake in shares of Align Technology by 16.2% during the first quarter. Graham Capital Management L.P. now owns 5,263 shares of the medical equipment provider's stock valued at $836,000 after purchasing an additional 732 shares in the last quarter. Caption Management LLC acquired a new stake in shares of Align Technology during the first quarter valued at about $127,000. Quarry LP lifted its stake in shares of Align Technology by 197.7% in the first quarter. Quarry LP now owns 765 shares of the medical equipment provider's stock worth $122,000 after acquiring an additional 508 shares during the period. Finally, DAFNA Capital Management LLC lifted its stake in shares of Align Technology by 100.0% in the first quarter. DAFNA Capital Management LLC now owns 11,000 shares of the medical equipment provider's stock worth $1,747,000 after acquiring an additional 5,500 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on ALGN shares. Morgan Stanley reaffirmed an "equal weight" rating and issued a $154.00 price objective (down from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. Wells Fargo & Company cut their price objective on Align Technology from $246.00 to $199.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Piper Sandler cut their price objective on Align Technology from $250.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Evercore ISI lifted their price objective on Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Stifel Nicolaus cut their price objective on Align Technology from $275.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $215.00.

Insider Activity at Align Technology

In other news, CEO Joseph M. Hogan acquired 7,576 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was purchased at an average price of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the acquisition, the chief executive officer directly owned 184,945 shares in the company, valued at $24,318,418.05. The trade was a 4.27% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by corporate insiders.

Align Technology Stock Up 3.3%

ALGN traded up $4.42 during trading on Friday, hitting $139.12. The company's stock had a trading volume of 1,058,096 shares, compared to its average volume of 1,349,524. Align Technology, Inc. has a twelve month low of $127.70 and a twelve month high of $262.87. The stock's fifty day moving average price is $166.65 and its 200-day moving average price is $172.21. The firm has a market capitalization of $10.08 billion, a P/E ratio of 23.46, a PEG ratio of 1.52 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 earnings per share (EPS) 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 business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the firm posted $2.41 earnings per share. Align Technology's quarterly revenue was down 1.6% compared to the same quarter last year. Align Technology has set its Q3 2025 guidance at EPS. Equities research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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

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.