Banque Transatlantique SA Acquires 3,252 Shares of Align Technology, Inc. $ALGN

Key Points

• Banque Transatlantique SA significantly increased its stake in Align Technology, Inc., acquiring an additional 3,252 shares, raising its total ownership to 3,281 shares valued at $482,000.
• Several institutional investors, including Bank of America Corp DE and Algert Global LLC, have also enhanced their positions in Align Technology, highlighting strong institutional interest with 88.43% of the company owned by such investors.
• Align Technology announced a $200 million share buyback plan, indicating the board's belief that the company's stock is undervalued following a recent earnings report that missed analyst expectations.

Banque Transatlantique SA lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 11,213.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,281 shares of the medical equipment provider's stock after purchasing an additional 3,252 shares during the quarter. Banque Transatlantique SA's holdings in Align Technology were worth $482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA bought a new position in shares of Align Technology during the first quarter worth $32,000. Center for Financial Planning Inc. acquired a new stake in Align Technology in the 1st quarter valued at $35,000. SVB Wealth LLC acquired a new stake in Align Technology in the 1st quarter valued at about $36,000. Orion Capital Management LLC acquired a new stake in Align Technology in the 4th quarter valued at about $42,000. Finally, Mather Group LLC. lifted 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 valued at $69,000 after purchasing an additional 345 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

ALGN has been the topic of several recent research reports. Evercore ISI raised their target price on shares of Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a report 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 for the company in a research note on Thursday, July 31st. Morgan Stanley reissued an "equal weight" rating and issued a $154.00 price objective (down previously from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. Piper Sandler decreased their price objective on shares of Align Technology from $250.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Finally, Mizuho set a $210.00 price target on shares of Align Technology in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Align Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.00.

Align Technology Stock Performance

Shares of Align Technology stock traded down $2.26 during trading hours on Monday, reaching $136.86. The company's stock had a trading volume of 1,408,243 shares, compared to its average volume of 1,225,755. Align Technology, Inc. has a one year low of $127.70 and a one year high of $262.87. The company has a market capitalization of $9.92 billion, a P/E ratio of 23.08, a P/E/G ratio of 1.57 and a beta of 1.65. The stock's fifty day simple moving average is $166.65 and its two-hundred day simple moving average is $171.82.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $2.49 earnings per share for the quarter, missing analysts' consensus estimates of $2.57 by ($0.08). Align Technology had a net margin of 11.04% and a return on equity of 13.36%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the business earned $2.41 earnings per share. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. Align Technology has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.

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

Insider Buying and Selling at Align Technology

In related news, CEO Joseph M. Hogan acquired 7,576 shares of the stock in a transaction on Friday, August 1st. The shares were acquired at an average price 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 in the company, valued at approximately $24,318,418.05. The trade was a 4.27% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is owned by insiders.

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.