Optimum Investment Advisors Trims Stock Position in Align Technology, Inc. $ALGN

Optimum Investment Advisors lessened its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 66.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 150 shares of the medical equipment provider’s stock after selling 300 shares during the quarter. Optimum Investment Advisors’ holdings in Align Technology were worth $28,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ALGN. Ninety One UK Ltd raised its position in shares of Align Technology by 58.7% during 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 during the period. Federated Hermes Inc. raised its position in Align Technology by 510.3% in the first quarter. Federated Hermes Inc. now owns 707,514 shares of the medical equipment provider’s stock valued at $112,396,000 after purchasing an additional 591,588 shares during the period. Mackenzie Financial Corp raised its position in Align Technology by 4,217.3% in the first quarter. Mackenzie Financial Corp now owns 426,205 shares of the medical equipment provider’s stock valued at $67,707,000 after purchasing an additional 416,333 shares during the period. Nordea Investment Management AB raised its position in Align Technology by 94.5% in the second quarter. Nordea Investment Management AB now owns 638,341 shares of the medical equipment provider’s stock valued at $121,055,000 after purchasing an additional 310,091 shares during the period. Finally, AQR Capital Management LLC raised its position in Align Technology by 104.2% in the first quarter. AQR Capital Management LLC now owns 404,310 shares of the medical equipment provider’s stock valued at $63,133,000 after purchasing an additional 206,308 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Down 0.6%

NASDAQ:ALGN opened at $135.21 on Monday. The company has a fifty day simple moving average of $134.14 and a two-hundred day simple moving average of $162.78. The company has a market cap of $9.80 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 1.53 and a beta of 1.70. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $246.19.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $2.49 EPS for the quarter, missing the consensus estimate of $2.57 by ($0.08). The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.06 billion. Align Technology had a return on equity of 13.36% and a net margin of 11.04%.The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.41 EPS. Align Technology has set its Q3 2025 guidance at EPS. On average, analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology declared that its Board of Directors has approved a share repurchase program on Tuesday, August 5th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the medical equipment provider to buy up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALGN. Zacks Research raised Align Technology from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. Wells Fargo & Company cut their target price 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. Morgan Stanley cut their target price on Align Technology from $154.00 to $142.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Jefferies Financial Group reissued a “hold” rating and issued a $140.00 target price (down previously from $215.00) on shares of Align Technology in a research report on Friday, October 10th. Finally, UBS Group cut their target price on Align Technology from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $173.09.

Insider Activity at Align Technology

In other news, CEO Joseph M. Hogan bought 7,576 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the purchase, the chief executive officer owned 184,945 shares in the company, valued at approximately $24,318,418.05. This trade represents a 4.27% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

About Align Technology

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.