Align Technology, Inc. $ALGN Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Align Technology by 7.5%, now holding approximately 2.49% of the company worth about $289.68 million.
• Align Technology recently had its quarterly earnings miss analysts' estimates with $2.49 earnings per share, while revenue amounted to $1.01 billion, below expectations.
• Despite mixed analyst ratings, Align Technology has a consensus rating of "Moderate Buy" with a price target averaging $215.00.

T. Rowe Price Investment Management Inc. reduced its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 7.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,823,498 shares of the medical equipment provider's stock after selling 148,027 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 2.49% of Align Technology worth $289,681,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ALGN. Orion Capital Management LLC acquired a new stake in shares of Align Technology during the fourth quarter worth $42,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Align Technology during the first quarter worth $32,000. Center for Financial Planning Inc. acquired a new stake in shares of Align Technology during the first quarter worth $35,000. Mather Group LLC. lifted its holdings in shares of Align Technology by 375.0% during the first quarter. Mather Group LLC. now owns 437 shares of the medical equipment provider's stock worth $69,000 after purchasing an additional 345 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of Align Technology by 18.8% during the first quarter. Covestor Ltd now owns 493 shares of the medical equipment provider's stock worth $78,000 after purchasing an additional 78 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ALGN shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a report on Thursday, May 1st. Evercore ISI increased their price target on Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Stifel Nicolaus decreased their price target on Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Wells Fargo & Company decreased their price target on Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Finally, Hsbc Global Res downgraded Align Technology from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Align Technology currently has a consensus rating of "Moderate Buy" and an average price target of $215.00.

Insider Buying and Selling at Align Technology

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

Align Technology Stock Performance

Align Technology stock opened at $143.58 on Thursday. Align Technology, Inc. has a one year low of $127.70 and a one year high of $262.87. The business has a fifty day moving average of $176.75 and a two-hundred day moving average of $177.98. The company has a market cap of $10.41 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 1.62 and a beta of 1.61.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $2.49 earnings per share 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 firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the business earned $2.41 EPS. The company's quarterly revenue was down 1.6% compared to the same quarter last year. Align Technology has set its Q3 2025 guidance at EPS. Sell-side analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology declared that its Board of Directors has authorized a share repurchase plan on Tuesday, May 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical equipment provider to reacquire up to 7.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is 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.

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