Align Technology, Inc. $ALGN Shares Acquired by Bares Capital Management Inc.

Key Points

• Bares Capital Management Inc. increased its stake in Align Technology by 4.8%, acquiring an additional 24,481 shares, bringing its total holdings to approximately 537,606 shares worth about $85.4 million.
• CEO Joseph M. Hogan purchased 7,576 shares of Align Technology at an average cost of $131.49 per share, increasing his ownership by 4.27%.
• Align Technology announced a stock buyback plan to repurchase up to $1 billion in shares, indicating that its leadership believes the stock is undervalued.

Bares Capital Management Inc. boosted its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 4.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 537,606 shares of the medical equipment provider's stock after buying an additional 24,481 shares during the period. Align Technology accounts for approximately 9.2% of Bares Capital Management Inc.'s investment portfolio, making the stock its 6th largest holding. Bares Capital Management Inc. owned 0.74% of Align Technology worth $85,404,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ALGN. Compagnie Lombard Odier SCmA acquired a new stake in Align Technology in the first quarter worth $32,000. Center for Financial Planning Inc. acquired a new stake in Align Technology in the first quarter worth $35,000. SVB Wealth LLC acquired a new stake in Align Technology in the first quarter worth $36,000. Orion Capital Management LLC acquired a new stake in Align Technology in the fourth quarter worth $42,000. Finally, Mather Group LLC. increased its position in Align Technology by 375.0% in the first quarter. Mather Group LLC. now owns 437 shares of the medical equipment provider's stock worth $69,000 after buying an additional 345 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Joseph M. Hogan bought 7,576 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average price of $131.49 per share, with a total value of $996,168.24. Following the completion of the purchase, the chief executive officer directly owned 184,945 shares of the company's stock, valued at $24,318,418.05. This represents a 4.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Stifel Nicolaus decreased 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. Mizuho set a $210.00 price target on Align Technology in a research note on Thursday, July 31st. Piper Sandler decreased their price target on Align Technology from $250.00 to $190.00 and set an "overweight" 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 target (down previously from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. Finally, Zacks Research cut Align Technology from a "hold" rating to a "strong sell" rating in a research note on Monday, September 1st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Align Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.00.

Align Technology Trading Up 3.3%

ALGN stock traded up $4.42 during trading hours on Friday, hitting $139.12. 1,058,096 shares of the stock traded hands, compared to its average volume of 1,316,050. The stock has a 50-day simple moving average of $166.65 and a 200 day simple moving average of $171.82. Align Technology, Inc. has a one year low of $127.70 and a one year high of $262.87. The company has a market cap 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 for the quarter, missing the consensus estimate 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 prior year, the business earned $2.41 EPS. The company's quarterly revenue was down 1.6% compared to the same quarter last year. Align Technology has set its Q3 2025 guidance at EPS. Analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology declared that its Board of Directors has authorized a stock buyback plan on Tuesday, August 5th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the medical equipment provider to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

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.