Applied Fundamental Research LLC Invests $5.93 Million in Align Technology, Inc. $ALGN

Key Points

• Applied Fundamental Research LLC has invested approximately $5.93 million in Align Technology, acquiring 31,292 shares, which now represent about 5.3% of its total holdings.
• Several brokerages have recently revised their price targets for Align Technology, with Jefferies Financial Group lowering its target significantly from $215 to $140, while Piper Sandler set a new target of $190.
• Align Technology announced a $200 million stock repurchase plan, indicating that management believes its stock is undervalued; this plan allows for the reacquisition of up to 2% of shares.

Applied Fundamental Research LLC bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 31,292 shares of the medical equipment provider's stock, valued at approximately $5,925,000. Align Technology accounts for approximately 5.3% of Applied Fundamental Research LLC's holdings, making the stock its 10th biggest holding.

A number of other institutional investors have also recently bought and sold shares of ALGN. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Align Technology by 44.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,380 shares of the medical equipment provider's stock valued at $1,490,000 after buying an additional 2,881 shares during the period. Exchange Traded Concepts LLC grew its stake in Align Technology by 27.7% in the first quarter. Exchange Traded Concepts LLC now owns 4,929 shares of the medical equipment provider's stock valued at $783,000 after acquiring an additional 1,068 shares during the period. Janney Montgomery Scott LLC grew its stake in 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 valued at $1,608,000 after acquiring an additional 3,325 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI grew its stake in Align Technology by 30.5% in the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 52,694 shares of the medical equipment provider's stock valued at $8,371,000 after acquiring an additional 12,315 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in Align Technology by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 8,220 shares of the medical equipment provider's stock valued at $1,305,000 after acquiring an additional 215 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALGN. Jefferies Financial Group reiterated a "hold" rating and issued a $140.00 price objective (down from $215.00) on shares of Align Technology in a research report on Friday. Piper Sandler reduced their price target 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. Zacks Research upgraded shares of Align Technology from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 30th. Leerink Partners reduced their price target on shares of Align Technology from $188.00 to $172.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Weiss Ratings lowered shares of Align Technology from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $187.67.

Align Technology Trading Up 0.2%

Shares of ALGN opened at $129.79 on Wednesday. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $246.19. The firm has a fifty day simple moving average of $135.25 and a 200 day simple moving average of $163.94. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 1.47 and a beta of 1.70.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its 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 return on equity of 13.36% and a net margin of 11.04%.The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company posted $2.41 EPS. The business'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. As a group, research analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Align Technology announced that its board has approved a stock repurchase plan on Tuesday, August 5th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the medical equipment provider to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Joseph M. Hogan purchased 7,576 shares of Align Technology stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $131.49 per share, with a total value of $996,168.24. Following the completion of the transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.66% of the company's stock.

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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