Pallas Capital Advisors LLC grew its position in Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 12.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,396 shares of the medical equipment provider’s stock after acquiring an additional 373 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Align Technology were worth $643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of ALGN. Compagnie Lombard Odier SCmA bought a new stake in Align Technology in the first quarter worth $32,000. Center for Financial Planning Inc. bought a new stake in shares of Align Technology in the 1st quarter worth about $35,000. SVB Wealth LLC bought a new stake in shares of Align Technology in the 1st quarter worth about $36,000. Mather Group LLC. raised its position in Align Technology by 375.0% during the first 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 period. Finally, Covestor Ltd lifted its stake in shares of Align Technology by 18.8% in the 1st 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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Insiders Place Their Bets
In other Align Technology news, CEO Joseph M. Hogan acquired 7,576 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average cost of $131.49 per share, with a total value of $996,168.24. Following the completion of the purchase, the chief executive officer directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by company insiders.
Align Technology Stock Performance
Shares of NASDAQ ALGN opened at $131.39 on Friday. Align Technology, Inc. has a 52-week low of $127.70 and a 52-week high of $260.35. 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. The stock has a 50 day moving average price of $153.82 and a 200 day moving average price 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 for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm earned $2.41 earnings per share. The company’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. Analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.
Align Technology announced that its board has approved a stock repurchase 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 buy up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Analyst Upgrades and Downgrades
ALGN has been the topic of several analyst reports. Mizuho set a $210.00 target price on Align Technology in a research report on Thursday, July 31st. Wells Fargo & Company cut their price objective 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. Morgan Stanley restated an “equal weight” rating and issued a $154.00 target price (down previously from $249.00) on shares of Align Technology in a report on Thursday, July 31st. Piper Sandler reduced their price objective on shares of Align Technology from $250.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Finally, Evercore ISI boosted their target price on Align Technology from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $215.00.
Read Our Latest Analysis on ALGN
Align Technology Profile
(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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