Credit Agricole S A Purchases 2,518 Shares of Align Technology, Inc. $ALGN

Key Points

• Credit Agricole S A increased its stake in Align Technology by 19.2%, buying 2,518 additional shares, bringing their total to 15,617 shares valued at approximately $2.48 million.
• Align Technology's stock price has experienced a significant range, with a 1-year low of $127.70 and a high of $262.87, currently trading around $149.57.
• The company reported earnings per share of $2.49 for the latest quarter, missing analysts' expectations and marking a 1.6% decline in revenue year-over-year.

Credit Agricole S A grew its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 19.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,617 shares of the medical equipment provider's stock after purchasing an additional 2,518 shares during the quarter. Credit Agricole S A's holdings in Align Technology were worth $2,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. American Assets Inc. bought a new position in shares of Align Technology during the fourth quarter worth $417,000. First Trust Advisors LP boosted its position in shares of Align Technology by 2.9% during the fourth quarter. First Trust Advisors LP now owns 21,659 shares of the medical equipment provider's stock worth $4,516,000 after acquiring an additional 616 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Align Technology by 36.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 354,725 shares of the medical equipment provider's stock worth $73,961,000 after acquiring an additional 95,393 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Align Technology by 0.4% during the fourth quarter. Stifel Financial Corp now owns 34,003 shares of the medical equipment provider's stock worth $7,090,000 after acquiring an additional 139 shares during the last quarter. Finally, Pinebridge Investments L.P. boosted its position in shares of Align Technology by 205.7% during the fourth quarter. Pinebridge Investments L.P. now owns 14,500 shares of the medical equipment provider's stock worth $3,023,000 after acquiring an additional 9,757 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Evercore ISI upped their target price on shares of Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Morgan Stanley restated an "equal weight" rating and set a $154.00 target price (down previously from $249.00) on shares of Align Technology in a research report on Thursday, July 31st. Piper Sandler dropped their target price 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. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research report on Thursday, May 1st. Finally, Mizuho set a $210.00 price target on shares of Align Technology in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $215.00.

Insider Buying and Selling at Align Technology

In other news, CEO Joseph M. Hogan purchased 7,576 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $131.49 per share, with a total value of $996,168.24. Following the purchase, the chief executive officer owned 184,945 shares in the company, valued at approximately $24,318,418.05. This trade represents a 4.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.66% of the company's stock.

Align Technology Stock Performance

ALGN stock traded up $0.35 during trading on Friday, hitting $141.48. 151,757 shares of the company's stock traded hands, compared to its average volume of 1,217,634. Align Technology, Inc. has a 52 week low of $127.70 and a 52 week high of $262.87. The business has a fifty day simple moving average of $172.41 and a 200 day simple moving average of $175.03. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 1.60 and a beta of 1.61.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The medical equipment provider reported $2.49 EPS 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 last year, the business 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. Research analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Align Technology declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical equipment provider to purchase up to 7.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.