Alyeska Investment Group L.P. Sells 426,042 Shares of Align Technology, Inc. $ALGN

Key Points

• Alyeska Investment Group L.P. has reduced its stake in Align Technology, Inc. by 70.3% after selling 426,042 shares, leaving it with approximately 180,000 shares valued at roughly $28.6 million.
• CEO Joseph M. Hogan purchased 7,576 shares of Align Technology, increasing his ownership by 4.27% and valuing his total holdings at about $24.3 million.
• Recent analyst ratings for Align Technology have seen major price target reductions, with Morgan Stanley setting a new target of $154.00, down from $249.00, indicating a general decline in market sentiment.

Alyeska Investment Group L.P. lessened its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 70.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 180,000 shares of the medical equipment provider's stock after selling 426,042 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.25% of Align Technology worth $28,595,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALGN. Orion Capital Management LLC acquired a new position in shares of Align Technology during the fourth quarter worth $42,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Align Technology during the first quarter worth $32,000. Center for Financial Planning Inc. acquired a new position in shares of Align Technology during the first quarter worth $35,000. SVB Wealth LLC acquired a new position in shares of Align Technology during the first quarter worth $36,000. Finally, 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. Institutional investors own 88.43% of the company's stock.

Insider Buying and Selling at Align Technology

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 purchased at an average price of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the acquisition, the chief executive officer owned 184,945 shares of the company's stock, valued at approximately $24,318,418.05. This trade represents a 4.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ALGN. Morgan Stanley reiterated an "equal weight" rating and set a $154.00 price target (down previously from $249.00) on shares of Align Technology in a report on Thursday, July 31st. Piper Sandler cut their price target on shares of Align Technology from $250.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Wells Fargo & Company cut their price target on shares of Align Technology from $246.00 to $199.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Stifel Nicolaus cut their price target on shares of Align Technology from $275.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, July 31st. Finally, Zacks Research lowered shares of Align Technology from a "hold" rating to a "strong sell" rating in a report on Monday. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $215.00.

Align Technology Stock Down 3.5%

ALGN stock opened at $132.35 on Thursday. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 1.60 and a beta of 1.65. Align Technology, Inc. has a 12-month low of $127.70 and a 12-month high of $262.87. The company's fifty day simple moving average is $168.70 and its 200 day simple moving average is $173.14.

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 (EPS) for the quarter, missing the consensus estimate of $2.57 by ($0.08). The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.06 billion. Align Technology had a net margin of 11.04% and a return on equity of 13.36%. Align Technology's quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.41 EPS. Align Technology has set its Q3 2025 guidance at EPS. Research analysts expect 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 plan on Tuesday, August 5th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the medical equipment provider to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are 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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