Align Technology, Inc. $ALGN Shares Sold by Swedbank AB

Key Points

• Swedbank AB reduced its stake in Align Technology, Inc. by 14.1%, owning 0.58% of the company after selling 68,636 shares in the first quarter.
• The firm recently reported quarterly earnings of $2.49 EPS, falling short of the estimated $2.57 EPS, and revenue decreased by 1.6% compared to the same quarter last year.
• Align Technology's board has authorized a $200 million share buyback program, indicating confidence in the company's stock valuation.

Swedbank AB trimmed its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 417,631 shares of the medical equipment provider's stock after selling 68,636 shares during the period. Swedbank AB owned 0.58% of Align Technology worth $66,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in 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 worth $1,341,031,000 after purchasing an additional 185,187 shares during the period. Ninety One UK Ltd lifted its stake in 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 buying an additional 716,954 shares in the last quarter. Invesco Ltd. lifted its stake in 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 buying an additional 137,553 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Align Technology by 32.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 832,313 shares of the medical equipment provider's stock worth $132,221,000 after purchasing an additional 202,616 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in 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 worth $117,022,000 after purchasing an additional 4,789 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Price Performance

Shares of ALGN opened at $131.56 on Friday. The stock has a market cap of $9.54 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.53 and a beta of 1.65. Align Technology, Inc. has a 1-year low of $127.70 and a 1-year high of $262.87. The firm has a fifty day moving average price of $160.62 and a 200 day moving average price of $170.18.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The medical equipment provider reported $2.49 EPS for the quarter, missing analysts' consensus estimates 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 quarter in the prior year, the firm posted $2.41 earnings per share. The company's revenue for the quarter was down 1.6% compared to the same quarter last year. Align Technology has set its Q3 2025 guidance at EPS. As a group, equities analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology declared that its board has authorized a share 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 shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

ALGN has been the subject of a number of recent analyst reports. Morgan Stanley restated an "equal weight" rating and set a $154.00 price target (down previously from $249.00) on shares of Align Technology in a report on Thursday, July 31st. Zacks Research downgraded shares of Align Technology from a "hold" rating to a "strong sell" rating in a report on Monday, September 1st. Wells Fargo & Company dropped their target price on shares of Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Stifel Nicolaus dropped their price target on shares of Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Finally, Mizuho set a $210.00 price target on shares of Align Technology in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Align Technology has an average rating of "Moderate Buy" and a consensus price target of $215.00.

Insiders Place Their Bets

In other Align Technology news, CEO Joseph M. Hogan purchased 7,576 shares of Align Technology stock in a transaction on Friday, August 1st. The shares were bought at an average price of $131.49 per share, with a total value of $996,168.24. Following the completion of the acquisition, the chief executive officer directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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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