State of Michigan Retirement System Trims Holdings in Align Technology, Inc. $ALGN

State of Michigan Retirement System decreased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 18,500 shares of the medical equipment provider’s stock after selling 500 shares during the period. State of Michigan Retirement System’s holdings in Align Technology were worth $3,503,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Redmond Asset Management LLC increased its position in shares of Align Technology by 2.0% during the first quarter. Redmond Asset Management LLC now owns 2,769 shares of the medical equipment provider’s stock valued at $440,000 after buying an additional 54 shares during the period. Horizon Investments LLC grew its stake in Align Technology by 6.2% during the first quarter. Horizon Investments LLC now owns 1,018 shares of the medical equipment provider’s stock valued at $162,000 after acquiring an additional 59 shares in the last quarter. Atria Investments Inc increased its holdings in Align Technology by 4.9% during the 2nd quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock worth $298,000 after acquiring an additional 74 shares during the period. IFP Advisors Inc lifted its stake in Align Technology by 5.7% in the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the medical equipment provider’s stock worth $270,000 after purchasing an additional 77 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in 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 period. Institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALGN. Morgan Stanley upped their price target on shares of Align Technology from $142.00 to $154.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. UBS Group reduced their target price on Align Technology from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Leerink Partners raised their price target on Align Technology from $172.00 to $189.00 in a report on Thursday, October 30th. Zacks Research upgraded Align Technology from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $175.45.

Align Technology Stock Up 1.1%

Shares of ALGN stock opened at $137.21 on Thursday. The business has a 50-day moving average price of $132.89 and a two-hundred day moving average price of $161.10. 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 $9.95 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 1.49 and a beta of 1.70.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $2.61 EPS for the quarter, beating the consensus estimate of $2.38 by $0.23. The firm had revenue of $995.69 million for the quarter, compared to analyst estimates of $980.75 million. Align Technology had a return on equity of 14.06% and a net margin of 9.50%.The company’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.35 EPS. Align Technology has set its Q4 2025 guidance at EPS. As a group, research analysts expect 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 share buyback program on Tuesday, August 5th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the medical equipment provider to purchase up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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.