Sivik Global Healthcare LLC Takes $2.84 Million Position in Align Technology, Inc. $ALGN

Key Points

• Sivik Global Healthcare LLC has acquired a new position in Align Technology, purchasing 15,000 shares valued at approximately $2.84 million during the second quarter.
• Align Technology's stock was recently rated with a consensus price target of $200.00, with various institutions lowering their price targets amid mixed ratings from analysts.
• The company announced a $200 million share buyback program, indicating management's belief that its shares are undervalued, while the CEO also increased his ownership by buying over 7,500 shares.

Sivik Global Healthcare LLC bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,000 shares of the medical equipment provider's stock, valued at approximately $2,840,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cromwell Holdings LLC raised its holdings in Align Technology by 2,900.0% during the second quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider's stock worth $34,000 after acquiring an additional 174 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in Align Technology during the first quarter worth about $32,000. Center for Financial Planning Inc. bought a new stake in Align Technology during the first quarter worth about $35,000. SVB Wealth LLC bought a new stake in Align Technology during the first quarter worth about $36,000. Finally, Farther Finance Advisors LLC raised its holdings in Align Technology by 42.2% during the second quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider's stock worth $59,000 after acquiring an additional 92 shares in the last quarter. Institutional investors own 88.43% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ALGN. Jefferies Financial Group reiterated a "hold" rating and set a $140.00 target price (down previously from $215.00) on shares of Align Technology in a report on Friday. Morgan Stanley reiterated an "equal weight" rating and set a $154.00 target price (down previously from $249.00) on shares of Align Technology in a report on Thursday, July 31st. Mizuho set a $210.00 price objective on Align Technology in a research note on Thursday, July 31st. Weiss Ratings lowered Align Technology from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday. Finally, Evercore ISI dropped their price objective on Align Technology from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $200.00.

Align Technology Trading Down 4.6%

Shares of NASDAQ ALGN opened at $125.79 on Friday. The firm has a market cap of $9.12 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.70. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $246.19. The business's 50 day moving average is $135.61 and its 200-day moving average is $164.38.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its earnings results on Wednesday, July 30th. The medical equipment provider reported $2.49 earnings per share for the quarter, missing analysts' consensus estimates of $2.57 by ($0.08). The firm 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%.Align Technology's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $2.41 EPS. Align Technology has set its Q3 2025 guidance at EPS. Analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology declared that its Board of Directors has authorized a share buyback program on Tuesday, August 5th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the medical equipment provider to buy up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Align Technology

In other news, CEO Joseph M. Hogan bought 7,576 shares of the 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 completion of the purchase, the chief executive officer owned 184,945 shares in the company, valued at approximately $24,318,418.05. This trade represents a 4.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.66% of the company's stock.

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.

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