2,089 Shares in Align Technology, Inc. $ALGN Purchased by Perbak Capital Partners LLP

Key Points

• Perbak Capital Partners LLP acquired a new stake in Align Technology, purchasing 2,089 shares valued at approximately $332,000 in the first quarter.
• A significant number of institutional investors have increased their holdings in Align Technology, with Ninety One UK Ltd raising its position by 58.7% and Federated Hermes Inc. increasing by 510.3%, highlighting strong interest in the company.
• Align Technology's CEO, Joseph M. Hogan, bought 7,576 shares at an average price of $131.49, boosting his stake in the company by 4.27%.

Perbak Capital Partners LLP purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,089 shares of the medical equipment provider's stock, valued at approximately $332,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Braidwell LP grew its position in Align Technology by 41.4% during the first quarter. Braidwell LP now owns 530,530 shares of the medical equipment provider's stock valued at $84,280,000 after acquiring an additional 155,351 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Align Technology by 4.0% during the first quarter. Royal Bank of Canada now owns 176,811 shares of the medical equipment provider's stock valued at $28,088,000 after purchasing an additional 6,837 shares during the period. Graham Capital Management L.P. boosted its stake in shares of Align Technology by 16.2% during the first quarter. Graham Capital Management L.P. now owns 5,263 shares of the medical equipment provider's stock valued at $836,000 after purchasing an additional 732 shares during the period. Caption Management LLC purchased a new stake in shares of Align Technology during the first quarter valued at approximately $127,000. Finally, Quarry LP boosted its stake in shares of Align Technology by 197.7% during the first quarter. Quarry LP now owns 765 shares of the medical equipment provider's stock valued at $122,000 after purchasing an additional 508 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Performance

ALGN stock traded up $4.42 on Friday, reaching $139.12. The company's stock had a trading volume of 1,058,096 shares, compared to its average volume of 1,316,050. The business has a fifty day simple moving average of $166.65 and a two-hundred day simple moving average of $171.82. Align Technology, Inc. has a 12-month low of $127.70 and a 12-month high of $262.87. The firm has a market cap of $10.08 billion, a PE ratio of 23.46, a PEG ratio of 1.57 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly 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). Align Technology had a return on equity of 13.36% and a net margin of 11.04%.The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the business earned $2.41 EPS. The business's revenue was down 1.6% compared to the same quarter last year. 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 declared that its Board of Directors has approved a stock repurchase plan on Tuesday, August 5th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the medical equipment provider to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALGN. Zacks Research cut shares of Align Technology from a "hold" rating to a "strong sell" rating in a research report on Monday, September 1st. Mizuho set a $210.00 price target on shares of Align Technology in a research report on Thursday, July 31st. Stifel Nicolaus dropped their price target on shares of Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Morgan Stanley reissued an "equal weight" rating and set a $154.00 price target (down previously from $249.00) on shares of Align Technology in a research report on Thursday, July 31st. Finally, Wells Fargo & Company dropped their price target on shares of Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.00.

Insider Buying and Selling

In other news, CEO Joseph M. Hogan acquired 7,576 shares of the stock in a transaction on Friday, August 1st. The stock was acquired at an average price of $131.49 per share, with a total value of $996,168.24. Following the completion of the transaction, the chief executive officer owned 184,945 shares of the company's stock, valued at $24,318,418.05. This represents a 4.27% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is owned by 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.