Baird Financial Group Inc. Trims Position in Align Technology, Inc. $ALGN

Key Points

• Baird Financial Group Inc. reduced its stake in Align Technology, Inc. by 32.7% during Q1, holding 13,061 shares worth approximately $2,075,000 after selling 6,345 shares.
• Align Technology missed earnings expectations for the latest quarter, reporting $2.49 EPS, below the consensus estimate of $2.57, with revenue down 1.6% year-over-year.
• The company's board authorized a $200 million share repurchase plan, indicating a belief that its shares are undervalued, allowing it to repurchase up to 2% of its stock.

Baird Financial Group Inc. cut its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 32.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,061 shares of the medical equipment provider's stock after selling 6,345 shares during the quarter. Baird Financial Group Inc.'s holdings in Align Technology were worth $2,075,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas acquired a new stake in shares of Align Technology during the 1st quarter worth approximately $1,647,000. Asset Management One Co. Ltd. grew its stake in shares of Align Technology by 14.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 31,624 shares of the medical equipment provider's stock worth $5,024,000 after purchasing an additional 4,009 shares during the period. American Assets Inc. acquired a new stake in shares of Align Technology during the 4th quarter worth approximately $417,000. Janney Montgomery Scott LLC grew its stake in shares of Align Technology by 48.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,120 shares of the medical equipment provider's stock worth $1,608,000 after purchasing an additional 3,325 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Align Technology by 44.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,380 shares of the medical equipment provider's stock worth $1,490,000 after purchasing an additional 2,881 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Align Technology Stock Performance

Align Technology stock opened at $139.12 on Monday. The company's fifty day moving average price is $166.65 and its 200 day moving average price is $171.82. Align Technology, Inc. has a 1 year low of $127.70 and a 1 year high of $262.87. The stock has a market capitalization of $10.08 billion, a P/E ratio of 23.46, a P/E/G ratio of 1.57 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced 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 business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.06 billion. Align Technology had a return on equity of 13.36% and a net margin of 11.04%.The company's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $2.41 EPS. Align Technology has set its Q3 2025 guidance at EPS. Sell-side analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology announced that its board has initiated a share 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 purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ALGN shares. Mizuho set a $210.00 price objective on shares of Align Technology in a research note on Thursday, July 31st. Evercore ISI raised their price objective on shares of Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Stifel Nicolaus dropped their price objective 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. Piper Sandler dropped their price target on shares of Align Technology from $250.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Finally, Zacks Research cut shares of Align Technology from a "hold" rating to a "strong sell" rating in a research note on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.00.

Insider Transactions at Align Technology

In other Align Technology news, CEO Joseph M. Hogan acquired 7,576 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of $131.49 per share, with a total value of $996,168.24. Following the purchase, the chief executive officer owned 184,945 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.66% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.