Swedbank AB Reduces Stock Position in Align Technology, Inc. $ALGN

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALGN. Ninety One UK Ltd raised its stake in Align Technology by 58.7% during 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 during the period. Federated Hermes Inc. raised its stake in Align Technology by 510.3% during 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 during the period. Mackenzie Financial Corp raised its stake in Align Technology by 4,217.3% during the 1st quarter. Mackenzie Financial Corp now owns 426,205 shares of the medical equipment provider's stock valued at $67,707,000 after purchasing an additional 416,333 shares during the period. AQR Capital Management LLC raised its stake in Align Technology by 104.2% during the 1st quarter. AQR Capital Management LLC now owns 404,310 shares of the medical equipment provider's stock valued at $63,133,000 after purchasing an additional 206,308 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Align Technology by 32.2% during 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 valued at $132,221,000 after purchasing an additional 202,616 shares during the period. Institutional investors own 88.43% of the company's stock.

Insider Buying and Selling at Align Technology

In related news, CEO Joseph M. Hogan bought 7,576 shares of the business's stock in a transaction dated Friday, August 1st. The shares were purchased at an average price of $131.49 per share, with a total value of $996,168.24. Following the transaction, the chief executive officer owned 184,945 shares in the company, valued at $24,318,418.05. This trade represents a 4.27% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.66% of the company's stock.

Align Technology Trading Up 2.1%

Shares of NASDAQ ALGN traded up $2.71 during trading hours on Thursday, hitting $132.15. 556,998 shares of the company traded hands, compared to its average volume of 1,224,839. The stock has a market capitalization of $9.58 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 1.49 and a beta of 1.65. The company's 50 day moving average price is $156.67 and its 200 day moving average price is $169.00. Align Technology, Inc. has a 12 month low of $127.70 and a 12 month high of $260.88.

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

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

Analysts Set New Price Targets

ALGN has been the topic of a number of research reports. 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. Piper Sandler reduced 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. Wells Fargo & Company reduced 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. Zacks Research downgraded Align Technology from a "hold" rating to a "strong sell" rating in a research note on Monday, September 1st. Finally, Mizuho set a $210.00 price objective on Align Technology in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and two have issued 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 a consensus price target of $215.00.

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.