Caxton Associates LLP Makes New $1.28 Million Investment in Align Technology, Inc. $ALGN

Key Points

• Caxton Associates LLP has purchased 8,077 shares of Align Technology, Inc., valued at approximately $1.283 million, marking a new investment in the company during the first quarter.
• Align Technology recently reported earnings per share (EPS) of $2.49 for the last quarter, missing estimates by $0.08, with revenues of $1.01 billion.
• The company has initiated a $200 million stock buyback program as a sign of management's belief that its shares are undervalued.

Caxton Associates LLP purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,077 shares of the medical equipment provider's stock, valued at approximately $1,283,000.

Several other hedge funds also recently bought and sold shares of ALGN. Compagnie Lombard Odier SCmA acquired a new position in Align Technology in the 1st quarter worth about $32,000. Center for Financial Planning Inc. acquired a new position in Align Technology in the 1st quarter worth about $35,000. SVB Wealth LLC acquired a new position in Align Technology in the 1st quarter worth about $36,000. Orion Capital Management LLC acquired a new position in Align Technology in the 4th quarter worth about $42,000. Finally, Mather Group LLC. increased its position 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 purchasing an additional 345 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Trading Down 0.0%

NASDAQ:ALGN traded down $0.05 during mid-day trading on Monday, hitting $131.52. 340,340 shares of the company's stock traded hands, compared to its average volume of 1,225,678. The firm has a 50 day moving average of $160.62 and a two-hundred day moving average of $169.92. Align Technology, Inc. has a 12 month low of $127.70 and a 12 month high of $262.87. The firm has a market capitalization of $9.53 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 1.48 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 business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company earned $2.41 EPS. Align Technology'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. As a group, equities research analysts expect 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 share buyback program on Tuesday, August 5th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the medical equipment provider to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other Align Technology 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 purchased at an average price of $131.49 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ALGN. Evercore ISI upped their target price on Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Stifel Nicolaus dropped their target price on Align Technology from $275.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Mizuho set a $210.00 target price on Align Technology in a research report on Thursday, July 31st. Piper Sandler lowered their price objective on Align Technology from $250.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Finally, Morgan Stanley reissued an "equal weight" rating and set a $154.00 price objective (down previously from $249.00) on shares of Align Technology in a report on Thursday, July 31st. One 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, Align Technology presently has an average rating of "Moderate Buy" and a consensus 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.