Czech National Bank boosted its holdings in Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,654 shares of the medical equipment provider’s stock after purchasing an additional 537 shares during the period. Czech National Bank’s holdings in Align Technology were worth $3,153,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new stake in Align Technology in the first quarter valued at $1,647,000. Asset Management One Co. Ltd. lifted its holdings in shares of Align Technology by 14.5% during the first quarter. Asset Management One Co. Ltd. now owns 31,624 shares of the medical equipment provider’s stock worth $5,024,000 after buying an additional 4,009 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Align Technology during the first quarter worth approximately $20,194,000. American Assets Inc. acquired a new stake in shares of Align Technology during the 4th quarter worth $417,000. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Align Technology by 48.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,120 shares of the medical equipment provider’s stock worth $1,608,000 after acquiring an additional 3,325 shares during the period. 88.43% of the stock is owned by institutional investors.
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Insider Activity at Align Technology
In other news, CEO Joseph M. Hogan purchased 7,576 shares of Align Technology stock in a transaction dated Friday, August 1st. The stock was purchased at an average cost of $131.49 per share, for a total transaction 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 trade represents a 4.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.66% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on ALGN shares. Stifel Nicolaus decreased their price target on shares of Align Technology from $275.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Morgan Stanley reiterated an “equal weight” rating and set a $154.00 target price (down from $249.00) on shares of Align Technology in a research report on Thursday, July 31st. Evercore ISI boosted their target price on shares of Align Technology from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Zacks Research cut shares of Align Technology from a “hold” rating to a “strong sell” rating in a research report on Monday, September 1st. Finally, Mizuho set a $210.00 price target on Align Technology 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 two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $215.00.
Read Our Latest Analysis on Align Technology
Align Technology Stock Performance
NASDAQ ALGN opened at $131.39 on Friday. The company has a market capitalization of $9.52 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.49 and a beta of 1.65. Align Technology, Inc. has a 52-week low of $127.70 and a 52-week high of $260.35. The company has a 50-day simple moving average of $153.82 and a 200 day simple moving average of $168.44.
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). Align Technology had a net margin of 11.04% and a return on equity of 13.36%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm earned $2.41 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. 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 fiscal year.
Align Technology announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 5th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the medical equipment provider to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are 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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