Wormser Freres Gestion Sells 20,682 Shares of Align Technology, Inc. $ALGN

Key Points

• Wormser Freres Gestion significantly reduced its holdings in Align Technology, selling 20,682 shares and holding just 3,588 shares, representing an 85.2% decrease in their stake.
• Align Technology's stock is currently valued at around $132.17, with a market capitalization of $9.58 billion, and the company recently announced a $200 million share repurchase program.
• The latest earnings report indicated a revenue decline of 1.6% year-over-year, with the company reporting earnings per share of $2.49, missing estimates by $0.08.

Wormser Freres Gestion decreased its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 85.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,588 shares of the medical equipment provider's stock after selling 20,682 shares during the period. Align Technology comprises about 0.4% of Wormser Freres Gestion's investment portfolio, making the stock its 26th biggest holding. Wormser Freres Gestion's holdings in Align Technology were worth $679,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALGN. Compagnie Lombard Odier SCmA bought a new stake in Align Technology in the 1st quarter worth about $32,000. Cromwell Holdings LLC grew its stake in shares of Align Technology by 2,900.0% in the second quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider's stock worth $34,000 after acquiring an additional 174 shares during the period. Center for Financial Planning Inc. bought a new stake in shares of Align Technology in the first quarter worth approximately $35,000. SVB Wealth LLC purchased a new position in shares of Align Technology during the first quarter valued at approximately $36,000. Finally, Farther Finance Advisors LLC lifted its position in Align Technology by 42.2% during the second quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider's stock valued at $59,000 after purchasing an additional 92 shares during the period. 88.43% of the stock is owned by institutional investors.

Align Technology Price Performance

Shares of ALGN opened at $132.17 on Monday. The stock has a market capitalization of $9.58 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 1.49 and a beta of 1.70. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $246.19. The business's 50 day simple moving average is $140.20 and its 200-day simple moving average is $165.69.

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 business had revenue of $1.01 billion during 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 company's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.41 EPS. Align Technology has set its Q3 2025 guidance at EPS. On average, sell-side analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 5th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the medical equipment provider to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

ALGN has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Align Technology in a research report on Saturday, September 27th. Piper Sandler reduced their price target on shares of Align Technology from $250.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Evercore ISI increased their price objective on shares of Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Stifel Nicolaus cut their target price on shares of Align Technology from $275.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Finally, Wells Fargo & Company decreased their price target on shares of Align Technology from $246.00 to $199.00 and set an "overweight" 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 given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $215.00.

Insider Activity

In other Align Technology news, CEO Joseph M. Hogan purchased 7,576 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $131.49 per share, with a total value of $996,168.24. Following the acquisition, the chief executive officer owned 184,945 shares in the company, valued at approximately $24,318,418.05. The trade was a 4.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.66% of the company's stock.

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.

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.