Vident Advisory LLC Grows Stock Holdings in Align Technology, Inc. $ALGN

Key Points

• Vident Advisory LLC has increased its stake in Align Technology, Inc. by 25.1%, acquiring a total of 64,073 shares valued at approximately $10.18 million as of the latest SEC filing.
• Align Technology reported Q2 earnings of $2.49 per share, missing analysts' estimates and showing a 1.6% decline in revenue year-over-year.
• Align Technology's Board has authorized a $1 billion share buyback, indicating confidence in the company's valuation, with 88.43% of the stock held by institutional investors.

Vident Advisory LLC increased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 25.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,073 shares of the medical equipment provider's stock after purchasing an additional 12,859 shares during the period. Vident Advisory LLC owned approximately 0.09% of Align Technology worth $10,179,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Redmond Asset Management LLC raised its holdings in shares of Align Technology by 2.0% during the first quarter. Redmond Asset Management LLC now owns 2,769 shares of the medical equipment provider's stock valued at $440,000 after purchasing an additional 54 shares during the last quarter. Horizon Investments LLC raised its holdings in shares of Align Technology by 6.2% during the first 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 during the last quarter. Washington Trust Advisors Inc. raised its holdings in shares of Align Technology by 5.2% during the first quarter. Washington Trust Advisors Inc. now owns 1,205 shares of the medical equipment provider's stock valued at $191,000 after purchasing an additional 60 shares during the last quarter. Fulcrum Capital LLC raised its holdings in shares of Align Technology by 0.8% during the first quarter. Fulcrum Capital LLC now owns 9,282 shares of the medical equipment provider's stock valued at $1,475,000 after purchasing an additional 70 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Align Technology by 18.8% during the first quarter. Covestor Ltd now owns 493 shares of the medical equipment provider's stock valued at $78,000 after purchasing an additional 78 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $141.96 on Friday. The firm has a fifty day moving average price of $171.61 and a 200-day moving average price of $174.56. The stock has a market cap of $10.29 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.59 and a beta of 1.61. Align Technology, Inc. has a 1 year low of $127.70 and a 1 year high of $262.87.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The medical equipment provider reported $2.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.57 by ($0.08). The firm 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 business's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the company earned $2.41 earnings per share. Align Technology has set its Q3 2025 guidance at EPS. On average, 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 authorized a share buyback program on Tuesday, May 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical equipment provider to buy up to 7.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Align Technology

In related news, CEO Joseph M. Hogan bought 7,576 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was purchased 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 in the company, valued at $24,318,418.05. The trade was a 4.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ALGN shares. Evercore ISI boosted their price objective on shares of Align Technology from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Stifel Nicolaus reduced their target price on shares of Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Piper Sandler reduced their target price on shares of Align Technology from $250.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Mizuho set a $210.00 target price on shares of Align Technology in a report on Thursday, July 31st. Finally, Wells Fargo & Company reduced their target price on shares of Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Align Technology currently has a consensus rating of "Moderate Buy" and an average price target of $215.00.

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.

Want to see what other hedge funds are holding ALGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Align Technology, Inc. (NASDAQ:ALGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.