Align Technology, Inc. $ALGN Shares Acquired by Swedbank AB

Key Points

• Swedbank AB increased its holdings in Align Technology, Inc. by 0.7%, now owning approximately 420,727 shares valued at $79.7 million.
• Align Technology's CEO purchased 7,576 shares for around $996,168, increasing his stake in the company by 4.27%.
• The stock has an average analyst rating of "Moderate Buy" with a target price around $215, despite recent mixed earnings reports and significant share price adjustments by various brokerages.

Swedbank AB increased its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 420,727 shares of the medical equipment provider's stock after buying an additional 3,096 shares during the quarter. Swedbank AB owned about 0.58% of Align Technology worth $79,656,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Compagnie Lombard Odier SCmA purchased a new position in shares of Align Technology in the 1st quarter worth $32,000. Center for Financial Planning Inc. purchased a new position in shares of Align Technology in the 1st quarter worth $35,000. SVB Wealth LLC purchased a new position in shares of Align Technology in the 1st quarter worth $36,000. Orion Capital Management LLC purchased a new position in shares of Align Technology in the 4th quarter worth $42,000. Finally, Mather Group LLC. raised its position in shares of Align Technology by 375.0% in the 1st quarter. Mather Group LLC. now owns 437 shares of the medical equipment provider's stock worth $69,000 after buying an additional 345 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus lowered their target price on Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Morgan Stanley reiterated an "equal weight" rating and issued a $154.00 target price (down previously from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. Zacks Research lowered Align Technology from a "hold" rating to a "strong sell" rating in a research note on Monday, September 1st. Wells Fargo & Company lowered their target price on Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Finally, Mizuho set a $210.00 target price on Align Technology in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.00.

Insider Buying and Selling

In other news, CEO Joseph M. Hogan purchased 7,576 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average cost 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 of the company's stock, valued at approximately $24,318,418.05. This trade represents a 4.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.66% of the company's stock.

Align Technology Stock Down 0.2%

Shares of Align Technology stock traded down $0.21 during trading hours on Monday, hitting $131.18. 795,072 shares of the company's stock traded hands, compared to its average volume of 1,214,253. The stock has a 50 day simple moving average of $152.46 and a 200-day simple moving average of $168.07. The company has a market cap of $9.51 billion, a PE ratio of 22.12, a PEG ratio of 1.48 and a beta of 1.65. Align Technology, Inc. has a twelve month low of $127.70 and a twelve month high of $260.35.

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 the consensus estimate of $2.57 by ($0.08). The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.06 billion. Align Technology had a net margin of 11.04% and a return on equity of 13.36%. The firm's revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.41 earnings per share. Align Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

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

About Align Technology

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.