Royal Bank of Canada Has $28.09 Million Position in Align Technology, Inc. $ALGN

Royal Bank of Canada raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 4.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 176,811 shares of the medical equipment provider's stock after buying an additional 6,837 shares during the period. Royal Bank of Canada owned about 0.24% of Align Technology worth $28,088,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Align Technology by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 8,441,592 shares of the medical equipment provider's stock valued at $1,341,031,000 after buying an additional 185,187 shares during the period. Ninety One UK Ltd lifted its stake in shares of Align Technology by 58.7% in the 1st quarter. Ninety One UK Ltd now owns 1,937,555 shares of the medical equipment provider's stock valued at $307,800,000 after purchasing an additional 716,954 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Align Technology by 12.7% in the 1st quarter. Invesco Ltd. now owns 1,219,715 shares of the medical equipment provider's stock valued at $193,764,000 after purchasing an additional 137,553 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Align Technology by 35.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 731,846 shares of the medical equipment provider's stock valued at $152,597,000 after purchasing an additional 190,711 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Align Technology by 510.3% in the 1st quarter. Federated Hermes Inc. now owns 707,514 shares of the medical equipment provider's stock valued at $112,396,000 after purchasing an additional 591,588 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company's stock.

Insider Activity

In related news, CEO Joseph M. Hogan acquired 7,576 shares of the company's stock in a transaction dated Friday, August 1st. The shares were bought at an average price of $131.49 per share, for a total transaction of $996,168.24. Following the acquisition, the chief executive officer owned 184,945 shares in the company, valued at $24,318,418.05. This trade represents a 4.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.66% of the company's stock.

Align Technology Stock Performance

NASDAQ:ALGN opened at $139.12 on Monday. The firm's 50-day moving average is $166.65 and its 200-day moving average is $171.82. Align Technology, Inc. has a 52-week low of $127.70 and a 52-week high of $262.87. The company has a market cap of $10.08 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 1.57 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted 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 return on equity of 13.36% and a net margin of 11.04%.The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm posted $2.41 EPS. The business'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. Equities analysts predict that Align Technology, Inc. will post 7.98 EPS for the current 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 outstanding shares. This buyback authorization authorizes the medical equipment provider to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALGN. Zacks Research lowered shares of Align Technology from a "hold" rating to a "strong sell" rating in a research note on Monday, September 1st. Piper Sandler reduced their price objective on shares of Align Technology from $250.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Mizuho set a $210.00 price objective on shares of Align Technology in a research note on Thursday, July 31st. Stifel Nicolaus reduced their price objective on shares of Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Finally, Wells Fargo & Company reduced their price objective on shares of Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a research note 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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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