Scientech Research LLC Sells 2,506 Shares of Align Technology, Inc. $ALGN

Key Points

• Scientech Research LLC has decreased its stake in Align Technology by 34.0%, now holding 4,862 shares worth approximately $772,000.
• Align Technology's CEO Joseph M. Hogan purchased 7,576 shares for nearly $1 million, increasing his ownership by 4.27%.
• The company's recent earnings report revealed an EPS of $2.49, missing estimates, with revenue down 1.6% year-over-year.

Scientech Research LLC lessened its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 34.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,862 shares of the medical equipment provider's stock after selling 2,506 shares during the period. Scientech Research LLC's holdings in Align Technology were worth $772,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Petrus Trust Company LTA bought a new position in shares of Align Technology during the 1st quarter valued at about $503,000. PharVision Advisers LLC lifted its holdings in shares of Align Technology by 23.8% during the 1st quarter. PharVision Advisers LLC now owns 1,347 shares of the medical equipment provider's stock valued at $214,000 after purchasing an additional 259 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Align Technology by 1.2% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 8,710 shares of the medical equipment provider's stock valued at $1,384,000 after purchasing an additional 104 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Align Technology by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider's stock valued at $1,624,000 after acquiring an additional 469 shares in the last quarter. Finally, Invenomic Capital Management LP acquired a new position in Align Technology during the 1st quarter worth approximately $3,575,000. Institutional investors own 88.43% of the company's stock.

Insider Activity

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

Align Technology Trading Down 3.2%

Shares of Align Technology stock traded down $4.35 on Friday, reaching $131.56. 718,868 shares of the company were exchanged, compared to its average volume of 1,244,872. Align Technology, Inc. has a one year low of $127.70 and a one year high of $262.87. The company has a market capitalization of $9.54 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.48 and a beta of 1.65. The company has a 50-day moving average of $160.62 and a 200 day moving average of $169.92.

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 analysts' consensus estimates of $2.57 by ($0.08). Align Technology had a return on equity of 13.36% and a net margin of 11.04%.The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company earned $2.41 EPS. The company's revenue for the quarter was down 1.6% on a year-over-year basis. Align Technology has set its Q3 2025 guidance at EPS. Analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current year.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Stifel Nicolaus reduced their price target on Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Mizuho set a $210.00 price target on Align Technology in a research report on Thursday, July 31st. Zacks Research downgraded Align Technology from a "hold" rating to a "strong sell" rating in a research report on Monday, September 1st. Evercore ISI upped their price target on Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company reduced their price target on Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a research report 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 given a Sell rating to the stock. According to data from MarketBeat.com, Align Technology currently has an average rating of "Moderate Buy" and a consensus price target of $215.00.

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.