Russell Investments Group Ltd. Has $26.76 Million Stock Position in Align Technology, Inc. $ALGN

Key Points

• Russell Investments Group Ltd. increased its shareholdings in Align Technology by 37.4%, acquiring 45,881 additional shares, bringing its total to 168,463 shares, valued at approximately $26.76 million.
• Align Technology's recent earnings report showed an EPS of $2.49, missing the consensus estimate of $2.57, with quarterly revenues of $1.01 billion, down 1.6% year-over-year.
• The company's board has initiated a $1 billion stock buyback plan, indicating a belief that the stock is currently undervalued.

Russell Investments Group Ltd. raised its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 37.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 168,463 shares of the medical equipment provider's stock after acquiring an additional 45,881 shares during the period. Russell Investments Group Ltd. owned about 0.23% of Align Technology worth $26,763,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. raised its holdings in Align Technology by 35.0% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 308,771 shares of the medical equipment provider's stock valued at $49,085,000 after acquiring an additional 80,061 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in Align Technology by 8.9% in the 1st quarter. Public Sector Pension Investment Board now owns 9,502 shares of the medical equipment provider's stock valued at $1,509,000 after acquiring an additional 779 shares in the last quarter. Invesco Ltd. raised its holdings in 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 acquiring an additional 137,553 shares in the last quarter. Covestor Ltd raised its holdings in Align Technology by 18.8% in the 1st quarter. Covestor Ltd now owns 493 shares of the medical equipment provider's stock valued at $78,000 after acquiring an additional 78 shares in the last quarter. Finally, Townsquare Capital LLC raised its holdings in Align Technology by 8.2% in the 1st quarter. Townsquare Capital LLC now owns 14,447 shares of the medical equipment provider's stock valued at $2,295,000 after acquiring an additional 1,092 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on ALGN. Mizuho set a $210.00 price target on Align Technology in a report on Thursday, July 31st. Evercore ISI upped their price target on Align Technology from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a report on Thursday, May 1st. Stifel Nicolaus dropped their target price on Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $154.00 target price (down from $249.00) on shares of Align Technology in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Align Technology presently has an average rating of "Moderate Buy" and a consensus price target of $215.00.

Insider Buying and Selling

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

Align Technology Trading Down 0.8%

NASDAQ ALGN traded down $1.17 during trading hours on Tuesday, reaching $143.77. 1,644,457 shares of the company's stock were exchanged, compared to its average volume of 1,222,913. The stock has a market cap of $10.42 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61. Align Technology, Inc. has a one year low of $127.70 and a one year high of $262.87. The firm has a fifty day moving average of $178.47 and a 200-day moving average of $178.46.

Align Technology (NASDAQ:ALGN - Get Free Report) last released 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). The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. Align Technology had a return on equity of 13.36% and a net margin of 11.04%.The firm's revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $2.41 earnings per share. Align Technology has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology announced that its board has approved a share buyback program on Tuesday, May 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to repurchase up to 7.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.