Amundi Has $49.84 Million Position in Align Technology, Inc. $ALGN

Key Points

• Amundi reduces its stake in Align Technology, Inc. by 10.4% to approximately $49.84 million, selling 37,661 shares during Q1.
• Align Technology reported missed quarterly earnings with EPS of $2.49, lower than the anticipated $2.57, alongside a year-over-year revenue decline of 1.6%.
• The company announced a $200 million share buyback plan, indicating its board's belief that the stock is undervalued.

Amundi cut its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 10.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 323,152 shares of the medical equipment provider's stock after selling 37,661 shares during the quarter. Amundi owned approximately 0.45% of Align Technology worth $49,843,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas acquired a new position in shares of Align Technology in the first quarter worth $1,647,000. Asset Management One Co. Ltd. increased its stake in shares of Align Technology by 14.5% in the first quarter. Asset Management One Co. Ltd. now owns 31,624 shares of the medical equipment provider's stock worth $5,024,000 after acquiring an additional 4,009 shares during the last quarter. American Assets Inc. acquired a new position in shares of Align Technology in the fourth quarter worth $417,000. Janney Montgomery Scott LLC increased its stake in shares of Align Technology by 48.9% in the first quarter. Janney Montgomery Scott LLC now owns 10,120 shares of the medical equipment provider's stock worth $1,608,000 after acquiring an additional 3,325 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Align Technology by 44.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,380 shares of the medical equipment provider's stock worth $1,490,000 after acquiring an additional 2,881 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Price Performance

ALGN stock opened at $139.12 on Monday. Align Technology, Inc. has a 52-week low of $127.70 and a 52-week high of $262.87. The company has a 50-day moving average of $166.65 and a two-hundred day moving average of $171.82. The stock has a market capitalization of $10.08 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 1.57 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings results 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 net margin of 11.04% and a return on equity of 13.36%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company earned $2.41 earnings per share. The firm's revenue was down 1.6% on a year-over-year basis. Align Technology has set its Q3 2025 guidance at EPS. Equities analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology announced that its board has initiated a share buyback plan on Tuesday, August 5th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the medical equipment provider to purchase up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Align Technology

In other news, CEO Joseph M. Hogan purchased 7,576 shares of the firm's stock in a transaction on Friday, August 1st. The stock was bought at an average cost of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the acquisition, the chief executive officer directly owned 184,945 shares of the company's stock, valued at approximately $24,318,418.05. The trade was a 4.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

ALGN has been the topic of a number of research reports. Stifel Nicolaus dropped their price target on shares of Align Technology from $275.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Morgan Stanley reaffirmed an "equal weight" rating and issued a $154.00 price target (down from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. Piper Sandler decreased their price objective on shares of Align Technology from $250.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Evercore ISI upped their price objective on shares of Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company decreased their price objective on shares of Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.

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