Align Technology, Inc. $ALGN Shares Sold by Logan Capital Management Inc.

Key Points

• Logan Capital Management Inc. reduced its stake in Align Technology by 23.3%, now owning 6,430 shares valued at approximately $1.02 million.
• Align Technology's CEO, Joseph M. Hogan, recently purchased 7,576 shares for about $996,168, increasing his ownership by 4.27%.
• The company announced a $200 million stock buyback program, indicating management's belief that the stock is undervalued.

Logan Capital Management Inc. lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 23.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,430 shares of the medical equipment provider's stock after selling 1,952 shares during the period. Logan Capital Management Inc.'s holdings in Align Technology were worth $1,021,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ALGN. Ninety One UK Ltd grew its stake in Align Technology by 58.7% during the 1st quarter. Ninety One UK Ltd now owns 1,937,555 shares of the medical equipment provider's stock valued at $307,800,000 after acquiring an additional 716,954 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Align Technology by 510.3% in the 1st quarter. Federated Hermes Inc. now owns 707,514 shares of the medical equipment provider's stock worth $112,396,000 after acquiring an additional 591,588 shares during the last quarter. Mackenzie Financial Corp lifted 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 worth $67,707,000 after acquiring an additional 416,333 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Align Technology by 104.2% in the 1st quarter. AQR Capital Management LLC now owns 404,310 shares of the medical equipment provider's stock worth $63,133,000 after acquiring an additional 206,308 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Align Technology by 333.4% in the 1st quarter. Citigroup Inc. now owns 256,492 shares of the medical equipment provider's stock worth $40,746,000 after acquiring an additional 197,317 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company's stock.

Align Technology Price Performance

Shares of ALGN stock traded down $0.33 during mid-day trading on Monday, hitting $131.24. The stock had a trading volume of 394,937 shares, compared to its average volume of 1,226,173. Align Technology, Inc. has a fifty-two week low of $127.70 and a fifty-two week high of $262.87. The firm has a market cap of $9.51 billion, a PE ratio of 22.14, a PEG ratio of 1.48 and a beta of 1.65. The company's 50-day simple moving average is $160.62 and its 200-day simple moving average is $169.92.

Align Technology (NASDAQ:ALGN - Get Free Report) last released 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 firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the business posted $2.41 EPS. The firm's revenue was down 1.6% on a year-over-year basis. Align Technology has set its Q3 2025 guidance at EPS. On average, analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology declared that its Board of Directors has initiated a share repurchase program on Tuesday, August 5th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the medical equipment provider to buy up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

ALGN has been the topic of several recent analyst reports. 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. Zacks Research lowered shares of Align Technology from a "hold" rating to a "strong sell" rating in a report on Monday, September 1st. Stifel Nicolaus reduced their price objective on shares of Align Technology from $275.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, July 31st. Piper Sandler reduced their price objective on shares of Align Technology from $250.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Finally, Evercore ISI increased their target price 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. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $215.00.

Insider Activity at Align Technology

In related news, CEO Joseph M. Hogan acquired 7,576 shares of Align Technology stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the purchase, the chief executive officer directly owned 184,945 shares of the company's stock, valued at approximately $24,318,418.05. This trade represents a 4.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by company insiders.

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.