Vontobel Holding Ltd. Sells 11,505 Shares of Align Technology, Inc. $ALGN

Key Points

• Vontobel Holding Ltd. sold 11,505 shares of Align Technology, reducing its stake by 45.6%, leaving the firm with 13,741 shares worth approximately $2.6 million.
• Align Technology's CEO Joseph M. Hogan bought 7,576 shares at an average price of $131.49 each, increasing his ownership by 4.27% to a total of 184,945 shares valued at around $24.3 million.
• Align Technology announced a $200 million share buyback plan, indicating the board's belief that the company's stock is currently undervalued.

Vontobel Holding Ltd. reduced its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 45.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,741 shares of the medical equipment provider's stock after selling 11,505 shares during the period. Vontobel Holding Ltd.'s holdings in Align Technology were worth $2,602,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ALGN. Ninety One UK Ltd boosted its position in Align Technology by 58.7% during the 1st quarter. Ninety One UK Ltd now owns 1,937,555 shares of the medical equipment provider's stock worth $307,800,000 after buying an additional 716,954 shares during the period. Federated Hermes Inc. increased its holdings in Align Technology by 510.3% in the first quarter. Federated Hermes Inc. now owns 707,514 shares of the medical equipment provider's stock valued at $112,396,000 after purchasing an additional 591,588 shares during the period. Mackenzie Financial Corp increased its holdings in Align Technology by 4,217.3% in the first quarter. Mackenzie Financial Corp now owns 426,205 shares of the medical equipment provider's stock valued at $67,707,000 after purchasing an additional 416,333 shares during the period. AQR Capital Management LLC increased its holdings in Align Technology by 104.2% in the first quarter. AQR Capital Management LLC now owns 404,310 shares of the medical equipment provider's stock valued at $63,133,000 after purchasing an additional 206,308 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Align Technology by 32.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 832,313 shares of the medical equipment provider's stock valued at $132,221,000 after purchasing an additional 202,616 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Joseph M. Hogan bought 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, with a total value of $996,168.24. Following the transaction, the chief executive officer directly owned 184,945 shares of the company's stock, valued at approximately $24,318,418.05. This represents a 4.27% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by insiders.

Align Technology Stock Down 4.6%

Shares of ALGN stock opened at $125.79 on Friday. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.70. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $246.19. The firm has a 50 day moving average of $135.61 and a 200-day moving average of $164.38.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its earnings results on Wednesday, July 30th. The medical equipment provider reported $2.49 earnings per share (EPS) 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 the consensus estimate of $1.06 billion. Align Technology had a return on equity of 13.36% and a net margin of 11.04%.The firm's revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.41 earnings per share. Align Technology has set its Q3 2025 guidance at EPS. Analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

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

Analyst Ratings Changes

ALGN has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price target 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. Piper Sandler lowered their price target 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. Wells Fargo & Company lowered their price target 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. Weiss Ratings cut shares of Align Technology from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday. Finally, Mizuho set a $210.00 price objective on shares of Align Technology in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Align Technology has an average rating of "Hold" and a consensus price target of $200.00.

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.

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