Ninety One North America Inc. Has $26.34 Million Stake in Align Technology, Inc. $ALGN

Key Points

• Ninety One North America Inc. increased its stake in Align Technology, Inc. by 46.5% during Q2, now holding 139,133 shares worth approximately $26.34 million.
• Align Technology reported an earnings per share (EPS) of $2.49 for the last quarter, missing expectations by $0.08 and experiencing a 1.6% decline in revenue year-over-year.
• The company's board has authorized a stock repurchase program for up to $200 million, indicating confidence that the company's stock is undervalued.

Ninety One North America Inc. grew its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 46.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,133 shares of the medical equipment provider's stock after purchasing an additional 44,135 shares during the period. Align Technology comprises 1.3% of Ninety One North America Inc.'s portfolio, making the stock its 29th largest holding. Ninety One North America Inc. owned about 0.19% of Align Technology worth $26,342,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Redmond Asset Management LLC lifted its position in Align Technology by 2.0% during the 1st quarter. Redmond Asset Management LLC now owns 2,769 shares of the medical equipment provider's stock worth $440,000 after acquiring an additional 54 shares during the last quarter. Horizon Investments LLC lifted its position in Align Technology by 6.2% during the 1st quarter. Horizon Investments LLC now owns 1,018 shares of the medical equipment provider's stock worth $162,000 after acquiring an additional 59 shares during the last quarter. Washington Trust Advisors Inc. lifted its position in Align Technology by 5.2% during the 1st quarter. Washington Trust Advisors Inc. now owns 1,205 shares of the medical equipment provider's stock worth $191,000 after acquiring an additional 60 shares during the last quarter. Covestor Ltd boosted its position in shares of Align Technology by 18.8% in the first quarter. Covestor Ltd now owns 493 shares of the medical equipment provider's stock valued at $78,000 after acquiring an additional 78 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of Align Technology by 42.2% in the second quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider's stock valued at $59,000 after acquiring an additional 92 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Align Technology Trading Down 0.9%

Shares of NASDAQ ALGN opened at $125.22 on Wednesday. The business has a fifty day simple moving average of $144.67 and a 200 day simple moving average of $166.49. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.42 and a beta of 1.65. Align Technology, Inc. has a one year low of $122.00 and a one year high of $256.22.

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

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

Insider Activity at Align Technology

In other news, CEO Joseph M. Hogan bought 7,576 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average cost of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the purchase, the chief executive officer owned 184,945 shares of the company's stock, valued at $24,318,418.05. This trade represents a 4.27% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ALGN shares. Zacks Research cut Align Technology from a "hold" rating to a "strong sell" rating in a research report on Monday, September 1st. 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 report on Thursday, July 31st. Wells Fargo & Company reduced their price objective on Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Evercore ISI increased their price objective on Align Technology from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $154.00 price objective (down from $249.00) on shares of Align Technology in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.

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