Navera Investment Management Ltd. Raises Stock Holdings in Align Technology, Inc. $ALGN

Key Points

• Navera Investment Management Ltd. has increased its stake in Align Technology, now owning 787,559 shares after acquiring an additional 23,080 shares, representing 2.7% of their overall portfolio.
• Align Technology reported disappointing Q2 earnings with earnings per share of $2.49, falling short of analysts' estimate of $2.57, amid a year-over-year revenue decline of 1.6%.
• The company has initiated a $200 million stock buyback program, allowing it to repurchase up to 2% of its outstanding shares, signaling management's belief that the stock is undervalued.

Navera Investment Management Ltd. increased its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 3.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 787,559 shares of the medical equipment provider's stock after acquiring an additional 23,080 shares during the period. Align Technology makes up about 2.7% of Navera Investment Management Ltd.'s portfolio, making the stock its 18th biggest holding. Navera Investment Management Ltd. owned about 1.09% of Align Technology worth $149,126,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALGN. Compagnie Lombard Odier SCmA purchased a new position in Align Technology in the 1st quarter worth $32,000. Cromwell Holdings LLC raised its stake in shares of Align Technology by 2,900.0% during the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider's stock valued at $34,000 after buying an additional 174 shares during the last quarter. Center for Financial Planning Inc. purchased a new position in shares of Align Technology during the 1st quarter valued at about $35,000. SVB Wealth LLC purchased a new position in shares of Align Technology during the 1st quarter valued at about $36,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Align Technology by 42.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider's stock valued at $59,000 after buying an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company's stock.

Align Technology Stock Down 0.8%

Shares of Align Technology stock opened at $130.47 on Wednesday. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $246.19. The business has a 50-day moving average price of $137.18 and a 200 day moving average price of $165.19. The firm has a market cap of $9.46 billion, a PE ratio of 22.00, a P/E/G ratio of 1.48 and a beta of 1.70.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings results 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). Align Technology had a net margin of 11.04% and a return on equity of 13.36%. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the firm earned $2.41 EPS. Align Technology'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. On average, sell-side analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

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

Insider Buying and Selling at Align Technology

In other Align Technology news, CEO Joseph M. Hogan purchased 7,576 shares of the business's 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 purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALGN. Stifel Nicolaus reduced their price objective on Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Piper Sandler reduced their price objective on Align Technology from $250.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Weiss Ratings reiterated a "hold (c-)" rating on shares of Align Technology in a research note on Saturday, September 27th. Mizuho set a $210.00 price objective on Align Technology in a research note on Thursday, July 31st. Finally, Zacks Research upgraded Align Technology from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $215.00.

About Align Technology

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.

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