Landscape Capital Management L.L.C. Acquires 49,583 Shares of Align Technology, Inc. $ALGN

Key Points

• Landscape Capital Management L.L.C. significantly increased its stake in Align Technology, Inc. by 972.2%, owning 54,683 shares valued at approximately $8.7 million.
• Align Technology recently missed earnings estimates, reporting EPS of $2.49, lower than the projected $2.57, and revenues of $1.01 billion compared to an expected $1.06 billion.
• Wall Street analysts have varying ratings for Align Technology, with an average target price of $215.00, and several firms adjusting their price targets following earnings reports.

Landscape Capital Management L.L.C. grew its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 972.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,683 shares of the medical equipment provider's stock after buying an additional 49,583 shares during the period. Align Technology makes up about 0.8% of Landscape Capital Management L.L.C.'s holdings, making the stock its 11th biggest holding. Landscape Capital Management L.L.C. owned 0.08% of Align Technology worth $8,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ALGN. American Assets Inc. purchased a new position in Align Technology in the 4th quarter worth approximately $417,000. First Trust Advisors LP grew its stake in Align Technology by 2.9% in the 4th quarter. First Trust Advisors LP now owns 21,659 shares of the medical equipment provider's stock worth $4,516,000 after buying an additional 616 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Align Technology by 36.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 354,725 shares of the medical equipment provider's stock worth $73,961,000 after buying an additional 95,393 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Align Technology by 13.3% in the 4th quarter. Northern Trust Corp now owns 736,936 shares of the medical equipment provider's stock worth $153,659,000 after acquiring an additional 86,493 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of Align Technology by 1,679.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 35,110 shares of the medical equipment provider's stock worth $7,321,000 after acquiring an additional 33,137 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company's stock.

Insider Activity at Align Technology

In related news, CEO Joseph M. Hogan bought 7,576 shares of the company's stock in a transaction dated Friday, August 1st. The stock was purchased at an average cost of $131.49 per share, with a total value of $996,168.24. Following the transaction, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.66% of the company's stock.

Align Technology Price Performance

ALGN traded up $0.83 during trading on Friday, hitting $141.96. 982,408 shares of the stock traded hands, compared to its average volume of 1,907,724. Align Technology, Inc. has a 12-month low of $127.70 and a 12-month high of $262.87. The firm has a market capitalization of $10.29 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 1.60 and a beta of 1.61. The firm has a 50-day moving average of $171.61 and a 200 day moving average of $174.35.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its earnings results 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 return on equity of 13.36% and a net margin of 11.04%.The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the prior year, the business posted $2.41 earnings per share. The company's revenue for the quarter was down 1.6% on a year-over-year basis. Align Technology has set its Q3 2025 guidance at EPS. As a group, equities analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology announced that its board has approved a stock buyback 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Mizuho set a $210.00 price objective on shares of Align Technology in a report on Thursday, July 31st. Wells Fargo & Company lowered their price objective on shares of Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a 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 for the company in a report on Thursday, July 31st. Morgan Stanley restated an "equal weight" rating and issued a $154.00 price objective (down from $249.00) on shares of Align Technology in a 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 for the company in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock 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.