Ieq Capital LLC Has $6.86 Million Stock Position in Align Technology, Inc. $ALGN

Key Points

• Ieq Capital LLC increased its stake in Align Technology by 10.6%, owning approximately 0.06% of the company valued at $6.86 million after purchasing an additional 4,121 shares in the first quarter.
• Align Technology has received mixed ratings from analysts, with a current average rating of "Moderate Buy" and an average price target of $215.00.
• CEO Joseph M. Hogan bought 7,576 shares of Align Technology stock, increasing his ownership by 4.27%, which reflects confidence in the company's future performance.

Ieq Capital LLC raised its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 10.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,157 shares of the medical equipment provider's stock after buying an additional 4,121 shares during the quarter. Ieq Capital LLC owned 0.06% of Align Technology worth $6,856,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ALGN. Ninety One UK Ltd lifted its stake in Align Technology by 58.7% during the first quarter. Ninety One UK Ltd now owns 1,937,555 shares of the medical equipment provider's stock valued at $307,800,000 after buying an additional 716,954 shares in the last quarter. Federated Hermes Inc. lifted its stake in Align Technology by 510.3% during the first quarter. Federated Hermes Inc. now owns 707,514 shares of the medical equipment provider's stock valued at $112,396,000 after buying an additional 591,588 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Align Technology by 4,217.3% in the 1st quarter. Mackenzie Financial Corp now owns 426,205 shares of the medical equipment provider's stock valued at $67,707,000 after purchasing an additional 416,333 shares during the period. Bank of America Corp DE lifted its position in shares of Align Technology by 77.3% in the fourth quarter. Bank of America Corp DE now owns 460,028 shares of the medical equipment provider's stock worth $95,920,000 after purchasing an additional 200,492 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Align Technology by 333.4% during the first quarter. Citigroup Inc. now owns 256,492 shares of the medical equipment provider's stock worth $40,746,000 after purchasing an additional 197,317 shares during the period. 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 purchased 7,576 shares of the stock in a transaction on Friday, August 1st. The shares were bought at an average price of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the acquisition, the chief executive officer directly owned 184,945 shares in the company, valued at approximately $24,318,418.05. This trade represents a 4.27% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Align Technology Price Performance

ALGN traded up $0.83 during midday trading on Friday, hitting $141.96. 982,408 shares of the company's stock traded hands, compared to its average volume of 1,557,928. The company has a market cap of $10.29 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.60 and a beta of 1.65. The stock's fifty day simple moving average is $171.61 and its 200-day simple moving average is $174.13. Align Technology, Inc. has a one year low of $127.70 and a one year high of $262.87.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The medical equipment provider reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.57 by ($0.08). The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. Align Technology had a net margin of 11.04% and a return on equity of 13.36%. Align Technology's revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.41 EPS. Align Technology has set its Q3 2025 guidance at EPS. On average, research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

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

Wall Street Analysts Forecast Growth

ALGN has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Align Technology from $246.00 to $199.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Evercore ISI boosted their price objective on shares of Align Technology from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Mizuho set a $210.00 price objective on shares of Align Technology in a research report on Thursday, July 31st. Piper Sandler lowered their price objective on shares of Align Technology from $250.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Finally, Stifel Nicolaus lowered their price objective on shares of Align Technology from $275.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. One equities research 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 given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.