Gulf International Bank UK Ltd Has $601,000 Stock Holdings in Align Technology, Inc. $ALGN

Key Points

• Gulf International Bank UK Ltd has reduced its holdings in Align Technology, Inc. by 33.4%, now owning 3,785 shares valued at approximately $601,000.
• Align Technology reported a quarterly earnings miss, with $2.49 EPS against expectations of $2.57, while its revenue decreased by 1.6% year-over-year to $1.01 billion.
• The company initiated a $1.00 billion stock buyback program, indicating the board's belief that its shares are undervalued.

Gulf International Bank UK Ltd lessened its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 33.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,785 shares of the medical equipment provider's stock after selling 1,894 shares during the period. Gulf International Bank UK Ltd's holdings in Align Technology were worth $601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in shares of Align Technology by 37.4% during the 1st quarter. Russell Investments Group Ltd. now owns 168,463 shares of the medical equipment provider's stock worth $26,763,000 after acquiring an additional 45,881 shares during the period. Resona Asset Management Co. Ltd. increased its position in Align Technology by 35.0% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 308,771 shares of the medical equipment provider's stock worth $49,085,000 after purchasing an additional 80,061 shares in the last quarter. Public Sector Pension Investment Board increased its position in Align Technology by 8.9% during the 1st quarter. Public Sector Pension Investment Board now owns 9,502 shares of the medical equipment provider's stock worth $1,509,000 after purchasing an additional 779 shares in the last quarter. Invesco Ltd. increased its position in Align Technology by 12.7% during the 1st quarter. Invesco Ltd. now owns 1,219,715 shares of the medical equipment provider's stock worth $193,764,000 after purchasing an additional 137,553 shares in the last quarter. Finally, Covestor Ltd increased its position in 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 purchasing an additional 78 shares in the last quarter. Institutional investors own 88.43% of the company's stock.

Align Technology Price Performance

NASDAQ ALGN traded down $1.17 during mid-day trading on Tuesday, reaching $143.77. 1,644,457 shares of the stock were exchanged, compared to its average volume of 2,497,959. Align Technology, Inc. has a one year low of $127.70 and a one year high of $262.87. The stock has a 50 day simple moving average of $177.59 and a 200-day simple moving average of $178.22. The stock has a market cap of $10.42 billion, a P/E ratio of 24.24, a P/E/G ratio of 1.63 and a beta of 1.61.

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 analysts' consensus estimates of $2.57 by ($0.08). Align Technology had a return on equity of 13.36% and a net margin of 11.04%.The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business earned $2.41 EPS. Align Technology's quarterly revenue was down 1.6% on a year-over-year basis. Align Technology has set its Q3 2025 guidance at EPS. Sell-side analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology announced that its board has approved a share repurchase program on Tuesday, May 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical equipment provider to purchase up to 7.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a research report on Thursday, May 1st. Mizuho set a $210.00 price objective on shares of Align Technology in a research report on Thursday, July 31st. Evercore ISI upped their price objective 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. UBS Group lowered their price objective on shares of Align Technology from $240.00 to $215.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Finally, 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 note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Align Technology has a consensus rating of "Moderate Buy" and an average target price of $215.00.

Insiders Place Their Bets

In related news, CEO Joseph M. Hogan purchased 7,576 shares of Align Technology stock in a transaction on Friday, August 1st. The stock was acquired at an average cost of $131.49 per share, for a total transaction of $996,168.24. Following the completion of 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by corporate insiders.

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.