Versor Investments LP Raises Stake in Align Technology, Inc. $ALGN

Key Points

• Versor Investments LP significantly increased its holdings in Align Technology, Inc. by 247.9%, owning 6,597 shares valued at over $1 million after purchasing an additional 4,701 shares in the first quarter.
• Align Technology reported a missed EPS of $2.49, below analysts' expectations of $2.57, along with a 1.6% decline in quarterly revenue compared to the prior year.
• The company has initiated a $1 billion share buyback program, indicating management's belief that the stock is undervalued, while institutional investors now hold 88.43% of its stock.

Versor Investments LP grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 247.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,597 shares of the medical equipment provider's stock after acquiring an additional 4,701 shares during the quarter. Versor Investments LP's holdings in Align Technology were worth $1,048,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Redmond Asset Management LLC increased its position in shares of Align Technology by 2.0% in the first quarter. Redmond Asset Management LLC now owns 2,769 shares of the medical equipment provider's stock valued at $440,000 after acquiring an additional 54 shares during the period. Horizon Investments LLC increased its stake in Align Technology by 6.2% during the 1st quarter. Horizon Investments LLC now owns 1,018 shares of the medical equipment provider's stock valued at $162,000 after purchasing an additional 59 shares in the last quarter. Washington Trust Advisors Inc. boosted its holdings in shares of Align Technology by 5.2% during the 1st quarter. Washington Trust Advisors Inc. now owns 1,205 shares of the medical equipment provider's stock valued at $191,000 after acquiring an additional 60 shares during the last quarter. Fulcrum Capital LLC boosted its holdings in shares of Align Technology by 0.8% during the 1st quarter. Fulcrum Capital LLC now owns 9,282 shares of the medical equipment provider's stock valued at $1,475,000 after acquiring an additional 70 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of Align Technology by 18.8% in the 1st quarter. Covestor Ltd now owns 493 shares of the medical equipment provider's stock worth $78,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Align Technology Stock Performance

Shares of Align Technology stock traded up $8.90 on Friday, hitting $149.57. The company's stock had a trading volume of 1,499,441 shares, compared to its average volume of 1,229,419. Align Technology, Inc. has a 1 year low of $127.70 and a 1 year high of $262.87. The firm has a fifty day moving average price of $175.93 and a 200-day moving average price of $177.47. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 1.62 and a beta of 1.61.

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

Align Technology declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical equipment provider to repurchase up to 7.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

ALGN has been the subject of several recent analyst reports. Stifel Nicolaus dropped their price target 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 restated an "equal weight" rating and set a $154.00 price objective (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 report on Thursday, July 31st. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a research report on Thursday, May 1st. Finally, Piper Sandler decreased their target price on Align Technology from $250.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. One 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, Align Technology presently has an average rating of "Moderate Buy" and an average target price of $215.00.

Insider Buying and Selling

In other news, CEO Joseph M. Hogan acquired 7,576 shares of the company's stock in a transaction on Friday, August 1st. The shares were bought at an average cost of $131.49 per share, with a total value of $996,168.24. Following the purchase, the chief executive officer owned 184,945 shares of the company's stock, valued at $24,318,418.05. This 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 this link. 0.66% of the stock is currently owned by company insiders.

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.