Bank Pictet & Cie Europe AG Takes Position in Align Technology, Inc. $ALGN

Key Points

• Bank Pictet & Cie Europe AG acquired a new position in Align Technology, Inc. ($ALGN), purchasing 4,913 shares valued at approximately $930,000 during the 2nd quarter.
• Align Technology reported $2.49 earnings per share (EPS) for its last quarter, falling short of the consensus estimate of $2.57; the company's revenue was down 1.6% year-over-year.
• The board of Align Technology approved a $200 million stock repurchase program, indicating confidence in the stock's value amid recent earnings misses.

Bank Pictet & Cie Europe AG purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,913 shares of the medical equipment provider's stock, valued at approximately $930,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALGN. Vise Technologies Inc. acquired a new stake in shares of Align Technology in the fourth quarter valued at approximately $202,000. GTS Securities LLC increased its stake in Align Technology by 114.0% during the fourth quarter. GTS Securities LLC now owns 1,138 shares of the medical equipment provider's stock worth $237,000 after acquiring an additional 9,275 shares during the last quarter. Toronto Dominion Bank increased its stake in Align Technology by 32.7% during the fourth quarter. Toronto Dominion Bank now owns 32,669 shares of the medical equipment provider's stock worth $6,812,000 after acquiring an additional 8,043 shares during the last quarter. Mackenzie Financial Corp increased its stake in Align Technology by 41.1% during the fourth quarter. Mackenzie Financial Corp now owns 9,872 shares of the medical equipment provider's stock worth $2,058,000 after acquiring an additional 2,877 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC increased its stake in Align Technology by 21.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,259 shares of the medical equipment provider's stock worth $263,000 after acquiring an additional 225 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company's stock.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $126.19 on Friday. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 1.41 and a beta of 1.65. The business has a 50-day moving average of $147.30 and a two-hundred day moving average of $167.00. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $259.01.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly 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 company 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%. The business's revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.41 EPS. Align Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology declared that its board has approved a stock buyback program on Tuesday, August 5th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the medical equipment provider to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at Align Technology

In other Align Technology news, CEO Joseph M. Hogan purchased 7,576 shares of Align Technology stock in a transaction on Friday, August 1st. The shares were 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 directly owned 184,945 shares in the company, valued at $24,318,418.05. This trade represents a 4.27% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on ALGN. Wells Fargo & Company cut their target price on Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Mizuho set a $210.00 price objective on Align Technology in a research note on Thursday, July 31st. Zacks Research cut Align Technology from a "hold" rating to a "strong sell" rating in a research note on Monday, September 1st. Morgan Stanley reaffirmed an "equal weight" rating and issued a $154.00 price objective (down from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. Finally, Piper Sandler decreased their target price on Align Technology from $250.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Align Technology currently has an average rating of "Moderate Buy" and an average price target of $215.00.

About Align Technology

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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