Bank of Nova Scotia Decreases Stock Holdings in Align Technology, Inc. $ALGN

Key Points

• Bank of Nova Scotia cut its Align Technology stake by 78%: The firm sold 9,132 shares during the first quarter and retained 2,580 shares valued at approximately $442,000. Institutional investors collectively own 88.43% of Align’s stock.
• Align exceeded second-quarter expectations: The company reported adjusted EPS of $2.64 versus the $2.62 consensus and revenue of about $1.06 billion, up 4.3% year over year. Record Invisalign shipments and digital-workflow adoption supported the results.
• Shares fell 3.7% amid near-term concerns: Investors are watching scanner pricing pressure, weaker systems performance and relatively cautious third-quarter guidance, despite a consensus “Moderate Buy” rating and a $206.36 price target.

Bank of Nova Scotia lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 78.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,580 shares of the medical equipment provider's stock after selling 9,132 shares during the period. Bank of Nova Scotia's holdings in Align Technology were worth $442,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC grew its stake in shares of Align Technology by 320.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,986 shares of the medical equipment provider's stock valued at $1,247,000 after buying an additional 6,085 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Align Technology by 35,513.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 545,604 shares of the medical equipment provider's stock worth $85,196,000 after buying an additional 544,072 shares during the period. Capital International Ltd. CA raised its position in shares of Align Technology by 26.5% in the 4th quarter. Capital International Ltd. CA now owns 57,194 shares of the medical equipment provider's stock worth $8,931,000 after buying an additional 11,977 shares during the period. Merit Financial Group LLC raised its position in shares of Align Technology by 197.3% in the 4th quarter. Merit Financial Group LLC now owns 8,167 shares of the medical equipment provider's stock worth $1,275,000 after buying an additional 5,420 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new position in Align Technology in the fourth quarter valued at $1,814,000. Hedge funds and other institutional investors own 88.43% of the company's stock.

Align Technology News Summary

Here are the key news stories impacting Align Technology this week:

• Positive Sentiment: Q2 results exceeded expectations: Align reported adjusted earnings of $2.64 per share versus the $2.62 consensus estimate, while revenue reached approximately $1.06 billion, ahead of expectations and up 4.3% year over year. Non-GAAP margins also improved. Align Technology Announces Second Quarter 2026 Financial Results
• Positive Sentiment: Clear-aligner momentum remains strong: Record Invisalign shipments and continued expansion of digital workflows support Align’s core growth strategy. Management highlighted increased adoption of connected orthodontic tools and reaffirmed its 2026 outlook. ALGN Q2 Earnings Call Highlights Digital Growth Push
• Positive Sentiment: Board and strategic changes could enhance shareholder value: Align plans to add three independent directors and conduct an operational review following discussions with Elliott Investment Management. The initiatives may improve governance, efficiency and capital allocation. Align Technology to overhaul board following engagement with Elliott
• Neutral Sentiment: Digital orthodontics remains a long-term focus: At its 2026 Invisalign Ortho Summit, Align presented its “Beyond Possible” vision for connected digital orthodontics, emphasizing integration of Invisalign, iTero scanners and exocad software. The event reinforces the company’s strategy but provides limited immediate financial impact. Align Technology Hosts 2026 Invisalign Ortho Summit
• Negative Sentiment: Near-term concerns temper the earnings beat: Third-quarter revenue guidance was broadly in line but was viewed as slightly below some expectations. Investors are also monitoring scanner pricing pressure and weaker systems performance, which could limit revenue growth and offset clear-aligner strength. Needham maintained a Hold rating, citing capped near-term upside. Align Technology Hold Rating Maintained

Align Technology Trading Down 3.7%

Shares of ALGN stock opened at $173.41 on Friday. The firm has a fifty day simple moving average of $174.44 and a 200-day simple moving average of $175.25. The company has a market capitalization of $12.42 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 1.85 and a beta of 1.67. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $200.43.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.02. Align Technology had a net margin of 9.99% and a return on equity of 16.04%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm posted $2.49 EPS. The firm's quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts predict that Align Technology, Inc. will post 9.48 EPS for the current year.

Align Technology announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 29th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the medical equipment provider to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of Align Technology from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a research report on Thursday. Evercore boosted their price objective on shares of Align Technology from $200.00 to $220.00 in a research note on Thursday, April 30th. Zacks Research downgraded shares of Align Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 16th. Finally, Leerink Partners raised their target price on shares of Align Technology from $225.00 to $230.00 in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $206.36.

Align Technology Company Profile

Align Technology, Inc NASDAQ: ALGN pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company's signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.

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