Banque Pictet & Cie SA Purchases 2,968 Shares of Align Technology, Inc. $ALGN

Key Points

• Banque Pictet & Cie SA has increased its stake in Align Technology, Inc. by 20.4%, now holding 17,527 shares valued at $3,318,000 after acquiring an additional 2,968 shares in the second quarter.
• Align Technology reported a Q2 earnings miss with EPS of $2.49, falling short of the consensus estimate of $2.57, and revenue of $1.01 billion, below the expected $1.06 billion.
• The company has initiated a $200 million stock buyback program, indicating management's belief that the stock is undervalued.

Banque Pictet & Cie SA grew its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 20.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,527 shares of the medical equipment provider's stock after buying an additional 2,968 shares during the quarter. Banque Pictet & Cie SA's holdings in Align Technology were worth $3,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Compagnie Lombard Odier SCmA purchased a new stake in shares of Align Technology in the 1st quarter worth $32,000. Center for Financial Planning Inc. purchased a new stake in shares of Align Technology in the 1st quarter worth $35,000. SVB Wealth LLC purchased a new stake in shares of Align Technology in the 1st quarter worth $36,000. Farther Finance Advisors LLC increased its stake in Align Technology by 42.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider's stock worth $59,000 after buying an additional 92 shares in the last quarter. Finally, Mather Group LLC. increased its stake in Align Technology by 375.0% in the 1st quarter. Mather Group LLC. now owns 437 shares of the medical equipment provider's stock worth $69,000 after buying an additional 345 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $126.19 on Friday. The company has a market cap of $9.15 billion, a P/E ratio of 21.28, a PEG ratio of 1.41 and a beta of 1.65. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $259.01. The firm has a 50-day simple moving average of $147.30 and a two-hundred day simple moving average of $167.00.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.57 by ($0.08). The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $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 EPS for the current year.

Align Technology declared that its board has initiated a stock buyback program on Tuesday, August 5th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the medical equipment provider to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Insider Transactions at Align Technology

In other news, CEO Joseph M. Hogan purchased 7,576 shares of the business's stock in a transaction on Friday, August 1st. The shares were acquired at an average cost of $131.49 per share, with a total value of $996,168.24. Following the completion of the acquisition, the chief executive officer owned 184,945 shares of the company's stock, valued at $24,318,418.05. This trade represents a 4.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALGN. Stifel Nicolaus cut their price target on Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Morgan Stanley reiterated an "equal weight" rating and issued a $154.00 price target (down previously from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. Zacks Research lowered Align Technology from a "hold" rating to a "strong sell" rating in a research note on Monday, September 1st. Mizuho set a $210.00 price target on Align Technology in a research note on Thursday, July 31st. Finally, Piper Sandler cut their price objective on Align Technology from $250.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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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