Raymond James Financial Inc. Grows Stake in Align Technology, Inc. $ALGN

Key Points

• Raymond James Financial Inc. increased its stake in Align Technology by 8.4%, now owning approximately 0.30% of the company, valued at $34.9 million after acquiring additional shares in the first quarter.
• Align Technology's stock recently experienced a 6.3% increase, with current trading at $149.57 compared to a 52-week low of $127.70 and a high of $262.87.
• The company reported earnings of $2.49 per share, missing estimates, and set a share repurchase program with authorization of up to $1 billion to buy back up to 7.9% of its stock.

Raymond James Financial Inc. raised its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 8.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,678 shares of the medical equipment provider's stock after purchasing an additional 17,085 shares during the quarter. Raymond James Financial Inc. owned about 0.30% of Align Technology worth $34,898,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ALGN. Compagnie Lombard Odier SCmA purchased a new position in Align Technology in the first quarter valued at about $32,000. Center for Financial Planning Inc. purchased a new position in Align Technology in the first quarter valued at about $35,000. Orion Capital Management LLC purchased a new position in Align Technology in the fourth quarter valued at about $42,000. Mather Group LLC. raised its position in Align Technology by 375.0% in 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 period. Finally, Covestor Ltd raised its position in 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 purchasing an additional 78 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Stock Up 6.3%

Shares of NASDAQ ALGN opened at $149.57 on Friday. The stock's 50 day moving average price is $175.36 and its two-hundred day moving average price is $176.74. Align Technology, Inc. has a 52-week low of $127.70 and a 52-week high of $262.87. The stock has a market capitalization of $10.84 billion, a P/E ratio of 25.22, a PEG ratio of 1.69 and a beta of 1.61.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The medical equipment provider reported $2.49 earnings per share (EPS) 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 firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company earned $2.41 EPS. The company's quarterly revenue was down 1.6% compared to the same quarter last year. Align Technology has set its Q3 2025 guidance at EPS. On average, analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology announced that its Board of Directors has authorized a share repurchase program on Tuesday, May 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical equipment provider to purchase up to 7.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

ALGN has been the topic of several recent analyst reports. Mizuho set a $210.00 price target on Align Technology in a research note on Thursday, July 31st. Stifel Nicolaus cut their price target on Align Technology from $275.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Wells Fargo & Company cut their price target on Align Technology from $246.00 to $199.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Evercore ISI boosted their price target on Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Piper Sandler cut their price target on Align Technology from $250.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Align Technology has an average rating of "Moderate Buy" and a consensus target price of $215.00.

Insider Transactions at Align Technology

In other news, CEO Joseph M. Hogan acquired 7,576 shares of the business's stock in a transaction on Friday, August 1st. The shares were purchased at an average price of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the purchase, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.

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