Applied Finance Capital Management LLC Makes New Investment in Align Technology, Inc. $ALGN

Applied Finance Capital Management LLC bought a new position in Align Technology, Inc. (NASDAQ:ALGN) during the second quarter, HoldingsChannel.com reports. The fund bought 1,864 shares of the medical equipment provider’s stock, valued at approximately $353,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Redmond Asset Management LLC increased its stake 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 increased its stake in shares of 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 buying an additional 59 shares during the period. Washington Trust Advisors Inc. increased its stake in shares of Align Technology by 5.2% during the first quarter. Washington Trust Advisors Inc. now owns 1,205 shares of the medical equipment provider’s stock valued at $191,000 after buying an additional 60 shares during the period. IFP Advisors Inc increased its stake in shares of Align Technology by 5.7% during the second quarter. IFP Advisors Inc now owns 1,427 shares of the medical equipment provider’s stock valued at $270,000 after buying an additional 77 shares during the period. Finally, Covestor Ltd increased its stake in shares of Align Technology by 18.8% during the first quarter. Covestor Ltd now owns 493 shares of the medical equipment provider’s stock valued at $78,000 after buying an additional 78 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Insiders Place Their Bets

In other Align Technology news, CEO Joseph M. Hogan purchased 7,576 shares of the stock in a transaction on Friday, August 1st. The stock was acquired at an average price of $131.49 per share, with a total value of $996,168.24. Following the completion of the acquisition, the chief executive officer 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ALGN. Wells Fargo & Company cut their price target on Align Technology from $246.00 to $199.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Morgan Stanley reaffirmed an “equal weight” rating and set a $154.00 price objective (down previously from $249.00) on shares of Align Technology in a research report on Thursday, July 31st. Jefferies Financial Group reaffirmed a “hold” rating and set a $140.00 price objective (down previously from $215.00) on shares of Align Technology in a research report on Friday, October 10th. Leerink Partners dropped their price objective on Align Technology from $188.00 to $172.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Stifel Nicolaus dropped their price objective on Align Technology from $275.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $182.67.

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $130.45 on Friday. The company has a market cap of $9.46 billion, a PE ratio of 22.00, a P/E/G ratio of 1.47 and a beta of 1.70. The business has a 50-day simple moving average of $134.71 and a two-hundred day simple moving average of $163.30. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $246.19.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $2.49 earnings per share 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%.Align Technology’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.41 EPS. Align Technology has set its Q3 2025 guidance at EPS. On average, sell-side analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

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