Align Technology, Inc. $ALGN Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its stake in Align Technology, Inc. by 6.1% during the second quarter, now holding approximately 73,121 shares worth $13.8 million.
• Align Technology reported earnings of $2.49 per share, missing estimates and experiencing a 1.6% year-over-year revenue decline to $1.01 billion.
• The company has initiated a $200 million stock repurchase plan, indicating the board's belief that the stock is undervalued.

US Bancorp DE trimmed its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 6.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,121 shares of the medical equipment provider's stock after selling 4,768 shares during the quarter. US Bancorp DE owned 0.10% of Align Technology worth $13,844,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Compagnie Lombard Odier SCmA acquired a new position in shares of Align Technology during the first quarter worth about $32,000. Cromwell Holdings LLC increased its stake in shares of Align Technology by 2,900.0% during the second quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider's stock worth $34,000 after acquiring an additional 174 shares during the period. Center for Financial Planning Inc. acquired a new position in Align Technology during the first quarter worth about $35,000. SVB Wealth LLC acquired a new position in Align Technology during the first quarter worth about $36,000. Finally, Farther Finance Advisors LLC grew its position in Align Technology by 42.2% during the second quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider's stock worth $59,000 after buying an additional 92 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $125.79 on Friday. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $246.19. The company has a market capitalization of $9.12 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.70. The firm's 50-day moving average is $135.61 and its two-hundred day moving average is $164.38.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced 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). The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.06 billion. Align Technology had a net margin of 11.04% and a return on equity of 13.36%. The business's quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.41 EPS. Align Technology has set its Q3 2025 guidance at EPS. On average, analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ALGN. Mizuho set a $210.00 target price on shares of Align Technology in a research report on Thursday, July 31st. Piper Sandler lowered their target price on shares of Align Technology from $250.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Jefferies Financial Group restated a "hold" rating and set a $140.00 target price (down from $215.00) on shares of Align Technology in a research report on Friday. Zacks Research upgraded shares of Align Technology from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 30th. Finally, Weiss Ratings lowered shares of Align Technology from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $200.00.

Insider Activity

In other news, CEO Joseph M. Hogan acquired 7,576 shares of Align Technology stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average price of $131.49 per share, with a total value of $996,168.24. Following the completion of the purchase, the chief executive officer owned 184,945 shares of the company's stock, valued at approximately $24,318,418.05. This represents a 4.27% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.66% of the company's stock.

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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