Dynamic Technology Lab Private Ltd Reduces Position in 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 trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 43.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

A number of other large investors have also modified their holdings of the business. Redmond Asset Management LLC raised its stake in shares of Align Technology by 2.0% during the 1st quarter. Redmond Asset Management LLC now owns 2,769 shares of the medical equipment provider's stock worth $440,000 after buying an additional 54 shares in the last quarter. Horizon Investments LLC raised its stake in shares of Align Technology by 6.2% during the 1st quarter. Horizon Investments LLC now owns 1,018 shares of the medical equipment provider's stock worth $162,000 after buying an additional 59 shares in the last quarter. Washington Trust Advisors Inc. raised its stake in shares of Align Technology by 5.2% during the 1st quarter. Washington Trust Advisors Inc. now owns 1,205 shares of the medical equipment provider's stock worth $191,000 after buying an additional 60 shares in the last quarter. Fulcrum Capital LLC raised its stake in shares of Align Technology by 0.8% during the 1st quarter. Fulcrum Capital LLC now owns 9,282 shares of the medical equipment provider's stock worth $1,475,000 after buying an additional 70 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Align Technology by 18.8% during the 1st quarter. Covestor Ltd now owns 493 shares of the medical equipment provider's stock worth $78,000 after buying an additional 78 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Joseph M. Hogan acquired 7,576 shares of the business's stock in a transaction on Friday, August 1st. The shares were bought at an average cost of $131.49 per share, with a total value of $996,168.24. Following the completion of the transaction, the chief executive officer directly owned 184,945 shares of the company's stock, valued at $24,318,418.05. This trade represents a 4.27% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Zacks Research cut Align Technology from a "hold" rating to a "strong sell" rating in a report on Monday, September 1st. Piper Sandler lowered their target price on Align Technology from $250.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Mizuho set a $210.00 price objective on shares of Align Technology in a research note on Thursday, July 31st. Morgan Stanley reaffirmed an "equal weight" rating and set a $154.00 price objective (down previously from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. Finally, Stifel Nicolaus dropped their price objective on shares of Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $215.00.

Align Technology Trading Up 0.7%

NASDAQ:ALGN traded up $0.90 during mid-day trading on Wednesday, hitting $132.72. The company had a trading volume of 122,024 shares, compared to its average volume of 1,221,122. The business has a fifty day simple moving average of $158.09 and a 200-day simple moving average of $169.27. Align Technology, Inc. has a 1 year low of $127.70 and a 1 year high of $262.87. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.48 and a beta of 1.65.

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 company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period last year, the business earned $2.41 earnings per share. The company'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, research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology announced that its Board of Directors has initiated a share buyback program on Tuesday, August 5th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the medical equipment provider to purchase up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are 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.