Align Technology, Inc. $ALGN Shares Purchased by ARK Investment Management LLC

ARK Investment Management LLC grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,205 shares of the medical equipment provider’s stock after purchasing an additional 221 shares during the period. ARK Investment Management LLC’s holdings in Align Technology were worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Cromwell Holdings LLC boosted its position in shares of Align Technology by 2,900.0% during the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 174 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Align Technology in the first quarter worth about $36,000. Farther Finance Advisors LLC boosted its holdings in shares of Align Technology by 42.2% in the second quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider’s stock worth $59,000 after buying an additional 92 shares during the period. Mather Group LLC. boosted its holdings in shares of Align Technology by 375.0% in the first quarter. Mather Group LLC. now owns 437 shares of the medical equipment provider’s stock worth $69,000 after buying an additional 345 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Align Technology by 18.8% in the first quarter. Covestor Ltd now owns 493 shares of the medical equipment provider’s stock worth $78,000 after buying an additional 78 shares during the period. Institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ALGN shares. Mizuho decreased their target price on shares of Align Technology from $210.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, October 13th. Evercore ISI decreased their target price on shares of Align Technology from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Stifel Nicolaus decreased their target price on shares of Align Technology from $275.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, July 31st. Wells Fargo & Company reduced their price target on shares of Align Technology from $246.00 to $199.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. Finally, Morgan Stanley reduced their price target on shares of Align Technology from $154.00 to $142.00 and set an “equal weight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $181.67.

Align Technology Stock Performance

Shares of ALGN opened at $135.58 on Thursday. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $246.19. The firm has a market cap of $9.83 billion, a PE ratio of 22.86, a PEG ratio of 1.54 and a beta of 1.70. The firm’s 50 day moving average price is $134.43 and its 200 day moving average price is $162.85.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results 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 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 the consensus estimate of $1.06 billion. During the same period in the prior year, the business earned $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. On average, sell-side analysts anticipate 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 initiated a stock repurchase program on Tuesday, August 5th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the medical equipment provider to buy up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at Align Technology

In other news, CEO Joseph M. Hogan purchased 7,576 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were bought at an average price of $131.49 per share, with a total value of $996,168.24. Following the completion of the transaction, the chief executive officer directly owned 184,945 shares in the company, valued at $24,318,418.05. This trade represents a 4.27% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

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.