Northern Trust Corp Sells 57,924 Shares of Align Technology, Inc. $ALGN

Key Points

• Northern Trust Corp reduced its holdings in Align Technology, Inc. by 7.9%, now owning 679,012 shares valued at approximately $107.9 million after selling 57,924 shares in the first quarter.
• Align Technology's CEO, Joseph M. Hogan, acquired 7,576 shares at an average price of $131.49, increasing his ownership by 4.27%.
• Wall Street analysts have set a consensus price target of $215.00 for Align Technology, reflecting various ratings from "Strong Buy" to "Sell" based on recent performance and forecasts.

Northern Trust Corp lowered its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 679,012 shares of the medical equipment provider's stock after selling 57,924 shares during the period. Northern Trust Corp owned 0.93% of Align Technology worth $107,868,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Compagnie Lombard Odier SCmA bought a new stake in Align Technology during the first quarter valued at approximately $32,000. Center for Financial Planning Inc. bought a new stake in Align Technology during the first quarter valued at approximately $35,000. Orion Capital Management LLC bought a new stake in Align Technology during the fourth quarter valued at approximately $42,000. Mather Group LLC. lifted its position in Align Technology by 375.0% during the first quarter. Mather Group LLC. now owns 437 shares of the medical equipment provider's stock valued at $69,000 after purchasing an additional 345 shares during the last quarter. Finally, Covestor Ltd lifted its position in Align Technology by 18.8% during the first quarter. Covestor Ltd now owns 493 shares of the medical equipment provider's stock valued at $78,000 after purchasing an additional 78 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Performance

NASDAQ:ALGN traded up $0.83 during midday trading on Friday, reaching $141.96. 982,408 shares of the stock traded hands, compared to its average volume of 1,907,724. The company has a fifty day moving average of $171.61 and a 200 day moving average of $174.56. Align Technology, Inc. has a 12 month low of $127.70 and a 12 month high of $262.87. The stock has a market capitalization of $10.29 billion, a P/E ratio of 23.94, a PEG ratio of 1.59 and a beta of 1.61.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $1.06 billion. During the same quarter last year, the company posted $2.41 earnings per share. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. Align Technology has set its Q3 2025 guidance at EPS. On average, analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology declared that its Board of Directors 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 stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Joseph M. Hogan acquired 7,576 shares of the firm's stock in a transaction 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 acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

ALGN has been the subject of several research analyst reports. Morgan Stanley reiterated an "equal weight" rating and set a $154.00 target price (down from $249.00) on shares of Align Technology in a research report on Thursday, July 31st. 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 research report on Thursday, July 31st. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a research report on Thursday, May 1st. Evercore ISI boosted their price objective 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. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $215.00.

Align Technology 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.