Jennison Associates LLC Buys Shares of 149,584 Align Technology, Inc. $ALGN

Key Points

• Jennison Associates LLC initiated a new stake in Align Technology by purchasing 149,584 shares worth approximately $23.36 million, representing about 0.21% of the company.
• Align beat Q1 estimates with $2.58 EPS (vs. $2.26 expected) and $1.04B revenue (vs. $1.02B), and its board authorized a $200 million buyback (≈1.6% of shares) signaling management confidence.
• Analysts have raised targets after the results—some to $220–$230—and MarketBeat shows an average price target of $205.85 amid a mix of Buy and Hold ratings, though the stock trades at roughly a 30x P/E which could temper near-term upside.

Jennison Associates LLC bought a new stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 149,584 shares of the medical equipment provider's stock, valued at approximately $23,358,000. Jennison Associates LLC owned 0.21% of Align Technology at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in Align Technology by 38.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,551 shares of the medical equipment provider's stock valued at $2,029,000 after acquiring an additional 4,359 shares in the last quarter. AE Wealth Management LLC purchased a new stake in shares of Align Technology during the 3rd quarter valued at $650,000. Dana Investment Advisors Inc. bought a new stake in shares of Align Technology during the 3rd quarter worth $9,991,000. AIA Group Ltd bought a new stake in shares of Align Technology during the 3rd quarter worth $2,507,000. Finally, Hussman Strategic Advisors Inc. bought a new stake in shares of Align Technology during the 3rd quarter worth $3,156,000. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Performance

Shares of ALGN opened at $178.91 on Friday. The business has a 50-day moving average of $179.02 and a 200 day moving average of $164.00. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $208.30. The firm has a market cap of $12.81 billion, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 1.91 and a beta of 1.70.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The medical equipment provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.32. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Align Technology had a return on equity of 15.82% and a net margin of 10.50%.The firm's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.13 EPS. As a group, research analysts predict that Align Technology, Inc. will post 9.15 earnings per share for the current fiscal year.

Align Technology declared that its board has authorized a share buyback plan on Wednesday, April 29th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the medical equipment provider to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently commented on ALGN. Weiss Ratings reiterated a "hold (c-)" rating on shares of Align Technology in a research note on Wednesday, April 15th. Morgan Stanley lifted their target price on Align Technology from $169.00 to $188.00 and gave the stock an "equal weight" rating in a research note on Friday, April 24th. UBS Group lifted their target price on Align Technology from $175.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday, February 5th. Barclays upgraded Align Technology from an "equal weight" rating to an "overweight" rating and set a $200.00 target price on the stock in a research note on Tuesday, March 17th. Finally, Wall Street Zen upgraded Align Technology from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 7th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, Align Technology has an average rating of "Moderate Buy" and an average price target of $205.85.

Insiders Place Their Bets

In other Align Technology news, EVP John Morici sold 7,969 shares of Align Technology stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the completion of the transaction, the executive vice president owned 8,237 shares of the company's stock, valued at $1,559,346.47. The trade was a 49.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.75% of the stock is owned by insiders.

Key Align Technology News

Here are the key news stories impacting Align Technology this week:

• Positive Sentiment: Q1 earnings beat and operational momentum — ALGN reported $2.58 EPS vs. $2.26 expected and roughly $1.04B revenue (above estimates). Management highlighted record Invisalign shipments, rising margins and steady global demand. This beat is the primary near-term driver. Align Technology beats quarterly estimates, plans $200 million buyback (Reuters)
• Positive Sentiment: $200 million share repurchase program — Align’s board authorized up to $200M (≈1.6% of shares) for buybacks, signaling management confidence and supporting EPS/cash-return expectations. Align Technology announces $200M share repurchase (MassDevice)
• Positive Sentiment: Analyst price-target increases — Evercore raised its target to $220 (from $200) and Leerink raised to $230 (from $225), both reflecting a meaningful upside to the current price and validating the beat/buyback story. Evercore raises ALGN target to $220 (MarketScreener) Leerink raises ALGN target to $230 (MarketScreener)
• Positive Sentiment: Earnings call reinforced product momentum — Management commentary emphasized global aligner demand and iTero scanner/ software traction, supporting medium-term growth expectations. Earnings Call Highlights (TipRanks)
• Neutral Sentiment: Product and innovation showcase at AAO — Align previewed 2026 innovations at the AAO session, which supports long-term adoption but is incremental to today’s headline drivers. AAO preview (BusinessWire)
• Negative Sentiment: Near-term limits to upside — despite positive headlines, valuation and market technicals could temper gains: ALGN trades at a ~30x P/E and intraday volume has been below average, which may cap momentum until follow-through earnings/cash-return evidence emerges.

Align Technology Profile

Align Technology, Inc NASDAQ: ALGN pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company's signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.

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