Braidwell LP Grows Position in Align Technology, Inc. $ALGN

Braidwell LP boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 41.4% in the first quarter, Holdings Channel.com reports. The firm owned 530,530 shares of the medical equipment provider’s stock after acquiring an additional 155,351 shares during the quarter. Align Technology comprises about 3.0% of Braidwell LP’s portfolio, making the stock its 12th largest position. Braidwell LP’s holdings in Align Technology were worth $84,280,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ALGN. Ninety One UK Ltd grew its holdings in Align Technology by 58.7% in the first quarter. Ninety One UK Ltd now owns 1,937,555 shares of the medical equipment provider’s stock valued at $307,800,000 after purchasing an additional 716,954 shares during the period. Federated Hermes Inc. lifted its position in Align Technology by 510.3% during the first quarter. Federated Hermes Inc. now owns 707,514 shares of the medical equipment provider’s stock valued at $112,396,000 after buying an additional 591,588 shares in the last quarter. Mackenzie Financial Corp lifted its position in Align Technology by 4,217.3% during the first quarter. Mackenzie Financial Corp now owns 426,205 shares of the medical equipment provider’s stock valued at $67,707,000 after buying an additional 416,333 shares in the last quarter. Bank of America Corp DE lifted its position in Align Technology by 77.3% during the fourth quarter. Bank of America Corp DE now owns 460,028 shares of the medical equipment provider’s stock valued at $95,920,000 after buying an additional 200,492 shares in the last quarter. Finally, Citigroup Inc. lifted its position in Align Technology by 333.4% during the first quarter. Citigroup Inc. now owns 256,492 shares of the medical equipment provider’s stock valued at $40,746,000 after buying an additional 197,317 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on ALGN shares. Piper Sandler reduced their price target 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. Mizuho set a $210.00 price target on shares of Align Technology in a research report on Thursday, July 31st. Morgan Stanley reissued 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. Stifel Nicolaus reduced their target price on shares of Align Technology from $275.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. Finally, Wells Fargo & Company reduced their target price 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 assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.00.

Insider Transactions at Align Technology

In related news, CEO Joseph M. Hogan purchased 7,576 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $24,318,418.05. The trade was a 4.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is owned by corporate insiders.

Align Technology Price Performance

ALGN opened at $141.96 on Monday. The stock has a market capitalization of $10.29 billion, a PE ratio of 23.94, a P/E/G ratio of 1.60 and a beta of 1.65. The firm’s fifty day moving average price is $171.61 and its 200 day moving average price is $174.13. Align Technology, Inc. has a 12-month low of $127.70 and a 12-month high of $262.87.

Align Technology (NASDAQ:ALGN) last posted its quarterly 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 during the quarter, compared to analyst estimates of $1.06 billion. Align Technology had a net margin of 11.04% and a return on equity of 13.36%. The company’s revenue was down 1.6% on a year-over-year basis. 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. On average, equities research analysts forecast 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 authorized a share buyback program on Tuesday, May 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to repurchase up to 7.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.