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Royal Bank of Canada boosted its holdings in Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 4.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 176,811 shares of the medical equipment provider’s stock after acquiring an additional 6,837 shares during the quarter. Royal Bank of Canada’s holdings in Align Technology were worth $28,088,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new stake in Align Technology in the first quarter valued at about $1,647,000. Asset Management One Co. Ltd. increased its stake in Align Technology by 14.5% in the first quarter. Asset Management One Co. Ltd. now owns 31,624 shares of the medical equipment provider’s stock valued at $5,024,000 after acquiring an additional 4,009 shares during the period. American Assets Inc. bought a new stake in Align Technology in the fourth quarter valued at about $417,000. Janney Montgomery Scott LLC increased its stake in Align Technology by 48.9% in the first quarter. Janney Montgomery Scott LLC now owns 10,120 shares of the medical equipment provider’s stock valued at $1,608,000 after acquiring an additional 3,325 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Align Technology by 44.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,380 shares of the medical equipment provider’s stock valued at $1,490,000 after acquiring an additional 2,881 shares during the period. Institutional investors own 88.43% of the company’s stock.
Insider Buying and Selling
In related news, CEO Joseph M. Hogan acquired 7,576 shares of the firm’s stock in a transaction 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 acquisition, the chief executive officer directly owned 184,945 shares in the company, valued at $24,318,418.05. The trade was a 4.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.66% of the stock is currently owned by corporate insiders.
Align Technology Stock Up 3.3%
Shares of NASDAQ:ALGN opened at $139.12 on Monday. Align Technology, Inc. has a 12 month low of $127.70 and a 12 month high of $262.87. The company’s 50-day moving average price is $166.65 and its two-hundred day moving average price is $171.82. The firm has a market cap of $10.08 billion, a P/E ratio of 23.46, a P/E/G ratio of 1.57 and a beta of 1.65.
Align Technology (NASDAQ:ALGN – Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The medical equipment provider reported $2.49 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company earned $2.41 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. Align Technology has set its Q3 2025 guidance at EPS. As a group, equities analysts predict 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 approved a share repurchase program on Tuesday, August 5th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the medical equipment provider to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on ALGN shares. Evercore ISI boosted their price target on shares of Align Technology from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Morgan Stanley reiterated an “equal weight” rating and issued a $154.00 target price (down previously from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. Zacks Research lowered Align Technology from a “hold” rating to a “strong sell” rating in a research report on Monday, September 1st. Wells Fargo & Company dropped 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. Finally, Stifel Nicolaus reduced their price objective on Align Technology from $275.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $215.00.
View Our Latest Stock Analysis on Align Technology
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.
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