3,059 Shares in Align Technology, Inc. $ALGN Purchased by Tema Etfs LLC

Key Points

• Tema Etfs LLC has acquired a new position in Align Technology, Inc., purchasing 3,059 shares valued at approximately $486,000.
• Align Technology's quarterly earnings showed an EPS of $2.49, missing expectations by $0.08, with revenue down 1.6% year-over-year.
• The company plans to initiate a $1 billion stock buyback program, indicating that its board believes the shares are undervalued.

Tema Etfs LLC acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,059 shares of the medical equipment provider's stock, valued at approximately $486,000.

Other hedge funds also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA bought a new stake in shares of Align Technology in the 1st quarter valued at about $32,000. Center for Financial Planning Inc. purchased a new stake in Align Technology during the first quarter worth $35,000. SVB Wealth LLC bought a new stake in Align Technology during the 1st quarter valued at $36,000. Orion Capital Management LLC purchased a new position in shares of Align Technology in the 4th quarter valued at $42,000. Finally, Mather Group LLC. lifted its stake in shares of Align Technology by 375.0% during the 1st quarter. Mather Group LLC. now owns 437 shares of the medical equipment provider's stock worth $69,000 after purchasing an additional 345 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Align Technology news, CEO Joseph M. Hogan purchased 7,576 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 184,945 shares of the company's stock, valued at $24,318,418.05. This trade represents a 4.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.66% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on ALGN. 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. 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. Evercore ISI lifted their price target on shares of Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Mizuho set a $210.00 price objective on Align Technology in a research report on Thursday, July 31st. Finally, Stifel Nicolaus reduced their target price on Align Technology from $275.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $215.00.

Align Technology Trading Down 3.4%

Shares of NASDAQ ALGN traded down $4.76 during trading on Tuesday, reaching $137.20. 1,003,665 shares of the company traded hands, compared to its average volume of 1,220,224. The stock has a market cap of $9.95 billion, a P/E ratio of 23.14, a PEG ratio of 1.60 and a beta of 1.65. The firm's fifty day simple moving average is $170.78 and its 200 day simple moving average is $173.68. Align Technology, Inc. has a 12-month low of $127.70 and a 12-month high of $262.87.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly 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 company had revenue of $1.01 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.41 earnings per share. Align Technology has set its Q3 2025 guidance at EPS. As a group, research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology declared that its Board of Directors has initiated a share repurchase plan 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 buy up to 7.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

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.