Alliancebernstein L.P. Reduces Stock Holdings in Align Technology, Inc. $ALGN

Key Points

• Alliancebernstein L.P. reduced its stake in Align Technology by 51.9% in the first quarter, owning 118,471 shares valued at approximately $18.82 million after selling 127,907 shares.
• Align Technology's CEO, Joseph M. Hogan, purchased 7,576 shares, increasing his ownership by 4.27% and affirming his confidence in the company's future.
• Analysts have set a new average price target of $215.00 for Align Technology, with varying ratings including one Strong Buy, eight Buy, and two Sell ratings.

Alliancebernstein L.P. lowered its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 51.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 118,471 shares of the medical equipment provider's stock after selling 127,907 shares during the quarter. Alliancebernstein L.P. owned about 0.16% of Align Technology worth $18,820,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALGN. Compagnie Lombard Odier SCmA acquired a new stake in Align Technology during the 1st quarter worth about $32,000. Center for Financial Planning Inc. acquired a new stake in Align Technology during the 1st quarter worth about $35,000. SVB Wealth LLC acquired a new position in shares of Align Technology in the 1st quarter valued at about $36,000. Orion Capital Management LLC acquired a new position in shares of Align Technology in the 4th quarter valued at about $42,000. Finally, Mather Group LLC. lifted its holdings in shares of Align Technology by 375.0% in the 1st quarter. Mather Group LLC. now owns 437 shares of the medical equipment provider's stock valued at $69,000 after buying an additional 345 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley reissued an "equal weight" rating and issued a $154.00 price objective (down previously from $249.00) on shares of Align Technology in a report on Thursday, July 31st. Evercore ISI boosted their price objective on Align Technology from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Zacks Research cut Align Technology from a "hold" rating to a "strong sell" rating in a report on Monday, September 1st. Mizuho set a $210.00 price target on Align Technology in a research note on Thursday, July 31st. Finally, Stifel Nicolaus cut their price target on Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a research note 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $215.00.

Insider Transactions at Align Technology

In other news, CEO Joseph M. Hogan acquired 7,576 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the transaction, the chief executive officer owned 184,945 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.66% of the company's stock.

Align Technology Trading Down 2.2%

NASDAQ:ALGN opened at $132.94 on Thursday. Align Technology, Inc. has a 12 month low of $127.70 and a 12 month high of $262.87. The stock has a 50 day moving average of $163.15 and a two-hundred day moving average of $170.94. The firm has a market cap of $9.64 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 1.53 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $2.49 EPS for the quarter, missing the consensus estimate of $2.57 by ($0.08). Align Technology had a net margin of 11.04% and a return on equity of 13.36%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business posted $2.41 EPS. Align Technology'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. On average, research analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology declared that its Board of Directors has authorized a stock repurchase program on Tuesday, August 5th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the medical equipment provider to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

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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