13,200 Shares in Align Technology, Inc. $ALGN Purchased by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec invested approximately $2.10 million in Align Technology, acquiring 13,200 shares of the company.
• $2.49 EPS for the last quarter, missing the consensus estimate of $2.57 by $0.08, with a decrease in revenue on a year-over-year basis.
• The company's Board of Directors has approved a share repurchase program allowing for the repurchase of up to $1.00 billion in shares, indicating confidence in the stock's valuation.

Caisse DE Depot ET Placement DU Quebec acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 13,200 shares of the medical equipment provider's stock, valued at approximately $2,097,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Align Technology by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 8,441,592 shares of the medical equipment provider's stock valued at $1,341,031,000 after buying an additional 185,187 shares during the period. Ninety One UK Ltd grew its stake in shares of Align Technology by 58.7% in the 1st quarter. Ninety One UK Ltd now owns 1,937,555 shares of the medical equipment provider's stock valued at $307,800,000 after buying an additional 716,954 shares during the period. Invesco Ltd. grew its stake in shares of Align Technology by 12.7% in the 1st quarter. Invesco Ltd. now owns 1,219,715 shares of the medical equipment provider's stock valued at $193,764,000 after buying an additional 137,553 shares during the period. Northern Trust Corp grew its stake in shares of Align Technology by 13.3% in the 4th quarter. Northern Trust Corp now owns 736,936 shares of the medical equipment provider's stock valued at $153,659,000 after buying an additional 86,493 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Align Technology by 35.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 731,846 shares of the medical equipment provider's stock valued at $152,597,000 after buying an additional 190,711 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 purchased 7,576 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average cost of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the acquisition, the chief executive officer owned 184,945 shares in the company, valued at $24,318,418.05. This trade represents a 4.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.66% of the company's stock.

Align Technology Stock Down 3.5%

Align Technology stock traded down $5.02 during midday trading on Tuesday, hitting $136.94. 687,385 shares of the stock were exchanged, compared to its average volume of 1,219,450. Align Technology, Inc. has a 52-week low of $127.70 and a 52-week high of $262.87. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 1.60 and a beta of 1.65. The business's 50-day moving average price is $170.78 and its 200-day moving average price is $173.68.

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 the consensus estimate of $2.57 by ($0.08). Align Technology had a return on equity of 13.36% and a net margin of 11.04%.The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter last year, the firm posted $2.41 earnings per share. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. Align Technology has set its Q3 2025 guidance at EPS. On average, sell-side analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Align Technology announced that its board has initiated a share repurchase program on Tuesday, May 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical equipment provider to reacquire up to 7.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have recently commented on ALGN shares. Mizuho set a $210.00 target price on Align Technology in a research note on Thursday, July 31st. Wells Fargo & Company reduced 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. Evercore ISI raised their target price on Align Technology from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Morgan Stanley restated an "equal weight" rating and issued a $154.00 target price (down from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. Finally, Stifel Nicolaus lowered their target price on shares of Align Technology from $275.00 to $200.00 and set a "buy" rating on the stock 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 one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.