Inspire Investing LLC trimmed its holdings in Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 24.7% during the second quarter, HoldingsChannel.com reports. The firm owned 1,515 shares of the medical equipment provider’s stock after selling 498 shares during the period. Inspire Investing LLC’s holdings in Align Technology were worth $287,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in shares of Align Technology in the 1st quarter valued at approximately $1,647,000. Asset Management One Co. Ltd. raised its position in shares of Align Technology by 14.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 31,624 shares of the medical equipment provider’s stock valued at $5,024,000 after purchasing an additional 4,009 shares in the last quarter. Czech National Bank raised its position in shares of Align Technology by 3.3% in the 2nd quarter. Czech National Bank now owns 16,654 shares of the medical equipment provider’s stock valued at $3,153,000 after purchasing an additional 537 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Align Technology in the 1st quarter valued at approximately $20,194,000. Finally, QRG Capital Management Inc. acquired a new position in shares of Align Technology in the 2nd quarter valued at approximately $306,000. 88.43% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, CEO Joseph M. Hogan bought 7,576 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 184,945 shares of the company’s stock, valued at approximately $24,318,418.05. This represents a 4.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is owned by corporate insiders.
Align Technology Trading Up 1.1%
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 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 company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business earned $2.41 earnings per share. Align Technology’s quarterly 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 EPS for the current fiscal year.
Align Technology announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 5th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the medical equipment provider to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
ALGN has been the topic of a number of recent analyst reports. Leerink Partners cut their target price on Align Technology from $188.00 to $172.00 and set an “outperform” rating on the stock in a research report on Tuesday. Piper Sandler dropped 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. Morgan Stanley reissued an “equal weight” rating and set a $154.00 price target (down from $249.00) on shares of Align Technology in a research report on Thursday, July 31st. Mizuho dropped their price target on Align Technology from $210.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company dropped their price target on 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 analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Align Technology presently has an average rating of “Hold” and an average price target of $182.67.
View Our Latest Report on ALGN
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.
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