Sivia Capital Partners LLC purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,078 shares of the medical equipment provider’s stock, valued at approximately $204,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Compagnie Lombard Odier SCmA acquired a new stake in Align Technology during the 1st quarter worth approximately $32,000. Center for Financial Planning Inc. acquired a new stake in Align Technology in the 1st quarter valued at about $35,000. SVB Wealth LLC acquired a new stake in Align Technology during the 1st quarter valued at $36,000. Mather Group LLC. raised its stake in Align Technology by 375.0% in the 1st quarter. Mather Group LLC. now owns 437 shares of the medical equipment provider’s stock valued at $69,000 after purchasing an additional 345 shares during the last quarter. Finally, Covestor Ltd increased its stake in Align Technology by 18.8% in 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.
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Wall Street Analysts Forecast Growth
ALGN has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Align Technology from $246.00 to $199.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Mizuho set a $210.00 target price on shares of Align Technology in a research note on Thursday, July 31st. Evercore ISI upped their price objective on Align Technology from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. Zacks Research cut shares of Align Technology from a “hold” rating to a “strong sell” rating in a research note on Monday, September 1st. Finally, Piper Sandler lowered their price target on Align Technology from $250.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.00.
Read Our Latest Report on ALGN
Insider Buying and Selling
In related news, CEO Joseph M. Hogan purchased 7,576 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average price of $131.49 per share, with a total value of $996,168.24. Following the completion of the acquisition, the chief executive officer directly owned 184,945 shares in the company, valued at approximately $24,318,418.05. This trade represents a 4.27% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.
Align Technology Trading Down 0.9%
Shares of NASDAQ ALGN opened at $131.39 on Friday. The business has a fifty day simple moving average of $153.82 and a 200 day simple moving average of $168.44. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 1.49 and a beta of 1.65. Align Technology, Inc. has a one year low of $127.70 and a one year high of $260.35.
Align Technology (NASDAQ:ALGN – Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.08). Align Technology had a return on equity of 13.36% and a net margin of 11.04%.The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned $2.41 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Align Technology has set its Q3 2025 guidance at EPS. On average, research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.
Align Technology announced that its Board of Directors has approved a stock repurchase plan on Tuesday, August 5th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the medical equipment provider to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
About Align Technology
(Free Report)
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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