Align Technology, Inc. $ALGN Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lowered its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 6.3% during the second quarter, Holdings Channel reports. The fund owned 555,269 shares of the medical equipment provider’s stock after selling 37,426 shares during the quarter. DAVENPORT & Co LLC’s holdings in Align Technology were worth $104,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALGN. Redmond Asset Management LLC grew its position in Align Technology by 2.0% during the 1st quarter. Redmond Asset Management LLC now owns 2,769 shares of the medical equipment provider’s stock worth $440,000 after purchasing an additional 54 shares during the period. Horizon Investments LLC lifted its holdings in shares of Align Technology by 6.2% in the 1st quarter. Horizon Investments LLC now owns 1,018 shares of the medical equipment provider’s stock valued at $162,000 after buying an additional 59 shares during the period. Washington Trust Advisors Inc. boosted its stake in shares of Align Technology by 5.2% in the first quarter. Washington Trust Advisors Inc. now owns 1,205 shares of the medical equipment provider’s stock worth $191,000 after buying an additional 60 shares during the last quarter. Covestor Ltd grew its holdings in Align Technology by 18.8% during the first quarter. Covestor Ltd now owns 493 shares of the medical equipment provider’s stock worth $78,000 after acquiring an additional 78 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Align Technology by 42.2% during the second quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider’s stock valued at $59,000 after acquiring an additional 92 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Joseph M. Hogan purchased 7,576 shares of Align Technology stock in a transaction dated 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 transaction, the chief executive officer owned 184,945 shares in the company, valued at $24,318,418.05. This represents a 4.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is owned by corporate insiders.

Align Technology Stock Up 2.7%

NASDAQ ALGN opened at $132.17 on Monday. The business’s fifty day simple moving average is $140.20 and its 200-day simple moving average is $165.69. The firm has a market cap of $9.58 billion, a PE ratio of 22.29, a P/E/G ratio of 1.49 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 announced its quarterly earnings data on Wednesday, July 30th. The medical equipment provider reported $2.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.08). Align Technology had a net margin of 11.04% and a return on equity of 13.36%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the company posted $2.41 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Align Technology has set its Q3 2025 guidance at EPS. Research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology announced that its board has initiated a stock repurchase program on Tuesday, August 5th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the medical equipment provider to buy up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Morgan Stanley restated an “equal weight” rating and issued a $154.00 price objective (down previously from $249.00) on shares of Align Technology in a research report on Thursday, July 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Align Technology in a research report on Saturday, September 27th. Evercore ISI lifted their price objective on shares of Align Technology from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Piper Sandler lowered their target price on shares of Align Technology from $250.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Finally, Zacks Research upgraded Align Technology from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

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.