Rep. Robert Bresnahan, Jr. Sells Off Shares of Align Technology, Inc. (NASDAQ:ALGN)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Align Technology, Inc. (NASDAQ:ALGN). In a filing disclosed on May 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in Align Technology stock on April 8th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 4/17/2025.
• Sold $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 4/16/2025.
• Sold $1,001 – $15,000 in shares of Western Digital (NASDAQ:WDC) on 4/11/2025.
• Sold $1,001 – $15,000 in shares of Western Digital (NASDAQ:WDC) on 4/10/2025.
• Sold $1,001 – $15,000 in shares of DexCom (NASDAQ:DXCM) on 4/8/2025.
• Sold $1,001 – $15,000 in shares of Invesco (NYSE:IVZ) on 4/8/2025.
• Sold $1,001 – $15,000 in shares of Generac (NYSE:GNRC) on 4/8/2025.
• Sold $15,001 – $50,000 in shares of Occidental Petroleum (NYSE:OXY) on 4/8/2025.
• Sold $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 4/8/2025.
• Sold $1,001 – $15,000 in shares of QUALCOMM (NASDAQ:QCOM) on 4/8/2025.

Align Technology Stock Up 0.5%

Shares of NASDAQ:ALGN opened at $181.81 on Monday. The company’s 50-day moving average price is $167.96 and its 200 day moving average price is $199.61. The company has a market cap of $13.31 billion, a PE ratio of 32.41, a P/E/G ratio of 2.24 and a beta of 1.68. Align Technology, Inc. has a fifty-two week low of $141.74 and a fifty-two week high of $283.00.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, April 30th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.13. Align Technology had a return on equity of 13.84% and a net margin of 10.54%. The company had revenue of $979.26 million for the quarter, compared to analysts’ expectations of $977.90 million. During the same quarter in the previous year, the company posted $2.14 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology announced that its board has authorized a share buyback program on Tuesday, May 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical equipment provider to buy up to 7.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Align Technology

Hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB lifted its holdings in shares of Align Technology by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock valued at $56,870,000 after purchasing an additional 9,139 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Align Technology by 119.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider’s stock valued at $35,368,000 after purchasing an additional 92,407 shares during the last quarter. Swedbank AB lifted its holdings in shares of Align Technology by 25.0% during the fourth quarter. Swedbank AB now owns 486,267 shares of the medical equipment provider’s stock valued at $101,392,000 after purchasing an additional 97,152 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of Align Technology by 34.5% during the fourth quarter. Principal Securities Inc. now owns 1,881 shares of the medical equipment provider’s stock valued at $392,000 after purchasing an additional 483 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Align Technology by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider’s stock valued at $1,626,000 after purchasing an additional 91 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ALGN shares. Hsbc Global Res lowered Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 25th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Thursday, May 1st. Piper Sandler reiterated an “overweight” rating and set a $250.00 price objective (up previously from $235.00) on shares of Align Technology in a research note on Thursday, May 1st. HSBC downgraded Align Technology from a “buy” rating to a “hold” rating and cut their target price for the stock from $290.00 to $170.00 in a research report on Friday, April 25th. Finally, Morgan Stanley lowered their price target on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and an average price target of $241.25.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.