Dynamic Technology Lab Private Ltd Sells 2,011 Shares of Align Technology, Inc. $ALGN

Key Points

• Dynamic Technology Lab Private Ltd reduced its stake in Align Technology by 43.2%, resulting in holdings worth approximately $420,000 after selling 2,011 shares.
• Align Technology reported lower-than-expected earnings of $2.49 per share for the latest quarter, missing the consensus estimate by $0.08, along with a slight decrease in revenue compared to the previous year.
• The company authorized a $200 million share buyback program, indicating confidence from its board that the stock is undervalued.

Dynamic Technology Lab Private Ltd cut its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 43.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,644 shares of the medical equipment provider's stock after selling 2,011 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Align Technology were worth $420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new position in shares of Align Technology during the fourth quarter worth approximately $42,000. Compagnie Lombard Odier SCmA bought a new stake in Align Technology during the first quarter worth approximately $32,000. Center for Financial Planning Inc. bought a new stake in Align Technology during the first quarter worth approximately $35,000. SVB Wealth LLC bought a new stake in Align Technology during the first quarter worth approximately $36,000. Finally, Mather Group LLC. raised its holdings in Align Technology by 375.0% during the first quarter. Mather Group LLC. now owns 437 shares of the medical equipment provider's stock worth $69,000 after purchasing an additional 345 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Down 0.4%

NASDAQ:ALGN traded down $0.50 during trading hours on Monday, hitting $131.06. 1,057,487 shares of the stock traded hands, compared to its average volume of 1,230,132. The firm has a 50 day moving average price of $160.62 and a 200 day moving average price of $169.92. Align Technology, Inc. has a fifty-two week low of $127.70 and a fifty-two week high of $262.87. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 1.48 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the firm earned $2.41 earnings per share. The company's revenue was down 1.6% on a year-over-year basis. Align Technology has set its Q3 2025 guidance at EPS. Research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology declared that its board has approved a stock repurchase plan on Tuesday, August 5th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the medical equipment provider to purchase up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Align Technology

In related news, CEO Joseph M. Hogan purchased 7,576 shares of the stock in a transaction dated 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 acquisition, the chief executive officer directly 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 document filed with the SEC, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ALGN has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on Align Technology from $246.00 to $199.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Evercore ISI boosted their target price on Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Mizuho set a $210.00 target price on Align Technology in a report on Thursday, July 31st. Stifel Nicolaus dropped their price target on Align Technology from $275.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, July 31st. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $154.00 price target (down previously from $249.00) on shares of Align Technology in a report on Thursday, July 31st. One investment 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, Align Technology currently has an average rating of "Moderate Buy" and an average price target of $215.00.

Align Technology 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.