EFG Asset Management North America Corp. Cuts Stock Holdings in Align Technology, Inc. $ALGN

Key Points

• EFG Asset Management North America Corp. reduced its stake in Align Technology, Inc. by 23.7%, selling 3,658 shares and holding a total of 11,753 shares valued at approximately $1.87 million as of the end of the last quarter.
• Align Technology reported a quarterly earnings per share of $2.49, missing the consensus estimate by $0.08, and the company's revenue decreased by 1.6% year-over-year.
• The company's board authorized a $200 million share buyback program, indicating confidence in the stock's undervaluation and allowing for the repurchase of up to 2% of its outstanding shares.

EFG Asset Management North America Corp. reduced its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 23.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,753 shares of the medical equipment provider's stock after selling 3,658 shares during the quarter. EFG Asset Management North America Corp.'s holdings in Align Technology were worth $1,867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Teacher Retirement System of Texas purchased a new position in Align Technology during the 1st quarter worth $1,647,000. Asset Management One Co. Ltd. grew its stake in Align Technology by 14.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 31,624 shares of the medical equipment provider's stock worth $5,024,000 after buying an additional 4,009 shares during the last quarter. American Assets Inc. purchased a new position in Align Technology during the 4th quarter worth $417,000. Janney Montgomery Scott LLC grew its stake in Align Technology by 48.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,120 shares of the medical equipment provider's stock worth $1,608,000 after buying an additional 3,325 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Align Technology by 44.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,380 shares of the medical equipment provider's stock worth $1,490,000 after buying an additional 2,881 shares during the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Align Technology news, CEO Joseph M. Hogan purchased 7,576 shares of Align Technology stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of $131.49 per share, with a total value of $996,168.24. Following the acquisition, the chief executive officer 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.66% of the company's stock.

Align Technology Stock Down 1.6%

Shares of ALGN stock traded down $2.26 on Monday, hitting $136.86. The company had a trading volume of 1,408,549 shares, compared to its average volume of 1,316,050. The firm has a market cap of $9.92 billion, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 1.57 and a beta of 1.65. Align Technology, Inc. has a twelve month low of $127.70 and a twelve month high of $262.87. The company has a 50-day moving average price of $166.65 and a 200-day moving average price of $171.82.

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 analysts' consensus estimates of $2.57 by ($0.08). The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.06 billion. Align Technology had a return on equity of 13.36% and a net margin of 11.04%.The business's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.41 EPS. Align Technology has set its Q3 2025 guidance at EPS. Equities research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology announced that its board has approved a stock buyback program on Tuesday, August 5th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the medical equipment provider to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently weighed in on ALGN. 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 research note on Thursday, July 31st. Stifel Nicolaus lowered their price target on Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Morgan Stanley reaffirmed an "equal weight" rating and set a $154.00 price target (down previously from $249.00) on shares of Align Technology in a research report on Thursday, July 31st. Piper Sandler lowered their price target on Align Technology from $250.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Finally, Zacks Research cut Align Technology from a "hold" rating to a "strong sell" rating in a research report on Monday, September 1st. One research 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 assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.