Ninety One UK Ltd Has $362.82 Million Stake in Align Technology, Inc. $ALGN

Key Points

• Ninety One UK Ltd holds a $362.82 million stake in Align Technology, after reducing its position by 1.1% in the second quarter, owning approximately 2.64% of the company.
• Align Technology reported Q2 earnings of $2.49 per share, missing estimates by $0.08, with revenue also below expectations at $1.01 billion.
• The company's board approved a $200 million share buyback plan, indicating a belief that the stock is undervalued, allowing for the repurchase of up to 2% of its outstanding shares.

Ninety One UK Ltd trimmed its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 1.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,916,309 shares of the medical equipment provider's stock after selling 21,246 shares during the period. Ninety One UK Ltd owned approximately 2.64% of Align Technology worth $362,815,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ALGN. Federated Hermes Inc. grew its stake in Align Technology by 510.3% during the first quarter. Federated Hermes Inc. now owns 707,514 shares of the medical equipment provider's stock worth $112,396,000 after buying an additional 591,588 shares in the last quarter. Mackenzie Financial Corp grew its stake in Align Technology by 4,217.3% during the first quarter. Mackenzie Financial Corp now owns 426,205 shares of the medical equipment provider's stock worth $67,707,000 after buying an additional 416,333 shares in the last quarter. AQR Capital Management LLC grew its stake in Align Technology by 104.2% during the first quarter. AQR Capital Management LLC now owns 404,310 shares of the medical equipment provider's stock worth $63,133,000 after buying an additional 206,308 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Align Technology by 32.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 832,313 shares of the medical equipment provider's stock worth $132,221,000 after buying an additional 202,616 shares in the last quarter. Finally, Citigroup Inc. grew its stake in Align Technology by 333.4% during the first quarter. Citigroup Inc. now owns 256,492 shares of the medical equipment provider's stock worth $40,746,000 after buying an additional 197,317 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $125.22 on Wednesday. The company has a 50 day simple moving average of $144.67 and a 200 day simple moving average of $166.49. The firm has a market cap of $9.08 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 1.42 and a beta of 1.65. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $256.22.

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

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

Insider Transactions at Align Technology

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

Analyst Ratings Changes

A number of brokerages have issued reports on ALGN. Morgan Stanley reiterated an "equal weight" rating and set a $154.00 price objective (down from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. Evercore ISI increased their target price on shares of Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Piper Sandler dropped their target price 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. Stifel Nicolaus dropped their target price 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. Finally, Zacks Research cut shares of Align Technology from a "hold" rating to a "strong sell" rating in a report on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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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