KLP Kapitalforvaltning AS Raises Stake in Align Technology, Inc. $ALGN

KLP Kapitalforvaltning AS raised its stake in Align Technology, Inc. (NASDAQ:ALGN) by 1.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 24,100 shares of the medical equipment provider’s stock after buying an additional 400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Align Technology were worth $4,563,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Align Technology by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 8,441,592 shares of the medical equipment provider’s stock valued at $1,341,031,000 after buying an additional 185,187 shares in the last quarter. Ninety One UK Ltd grew its holdings in Align Technology by 58.7% in the 1st quarter. Ninety One UK Ltd now owns 1,937,555 shares of the medical equipment provider’s stock valued at $307,800,000 after buying an additional 716,954 shares in the last quarter. Invesco Ltd. grew its holdings in Align Technology by 12.7% in the 1st quarter. Invesco Ltd. now owns 1,219,715 shares of the medical equipment provider’s stock valued at $193,764,000 after buying an additional 137,553 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Align Technology by 32.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 832,313 shares of the medical equipment provider’s stock valued at $132,221,000 after buying an additional 202,616 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Align Technology by 0.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 736,635 shares of the medical equipment provider’s stock valued at $117,022,000 after buying an additional 4,789 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Trading Down 4.6%

ALGN opened at $125.79 on Friday. The stock’s 50-day moving average price is $135.61 and its 200 day moving average price is $164.40. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $246.19. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 1.50 and a beta of 1.70.

Align Technology (NASDAQ:ALGN) last posted 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 return on equity of 13.36% and a net margin of 11.04%.The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the company posted $2.41 EPS. Align Technology’s revenue was down 1.6% on a year-over-year basis. Align Technology has set its Q3 2025 guidance at EPS. On average, research analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 5th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the medical equipment provider to buy up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings cut Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. Wells Fargo & Company lowered their price target on Align Technology from $246.00 to $199.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Piper Sandler lowered their price target on Align Technology from $250.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Mizuho set a $210.00 price target on Align Technology in a report on Thursday, July 31st. Finally, Stifel Nicolaus lowered their price target on Align Technology from $275.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Align Technology currently has an average rating of “Hold” and an average target price of $200.00.

Insider Transactions at Align Technology

In other news, CEO Joseph M. Hogan bought 7,576 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average price of $131.49 per share, with a total value of $996,168.24. Following the purchase, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Align Technology 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.