Bank of Montreal Can Sells 21,931 Shares of Align Technology, Inc. $ALGN

Bank of Montreal Can lessened its stake in Align Technology, Inc. (NASDAQ:ALGN) by 34.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,489 shares of the medical equipment provider’s stock after selling 21,931 shares during the quarter. Bank of Montreal Can’s holdings in Align Technology were worth $7,855,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. raised its position in Align Technology by 510.3% during the first quarter. Federated Hermes Inc. now owns 707,514 shares of the medical equipment provider’s stock worth $112,396,000 after acquiring an additional 591,588 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Align Technology by 4,217.3% during the 1st quarter. Mackenzie Financial Corp now owns 426,205 shares of the medical equipment provider’s stock worth $67,707,000 after purchasing an additional 416,333 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Align Technology by 94.5% in the 2nd quarter. Nordea Investment Management AB now owns 638,341 shares of the medical equipment provider’s stock valued at $121,055,000 after purchasing an additional 310,091 shares during the period. AQR Capital Management LLC raised its holdings in shares of Align Technology by 104.2% in the 1st quarter. AQR Capital Management LLC now owns 404,310 shares of the medical equipment provider’s stock valued at $63,133,000 after purchasing an additional 206,308 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Align Technology by 32.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 832,313 shares of the medical equipment provider’s stock valued at $132,221,000 after purchasing an additional 202,616 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Performance

ALGN opened at $134.84 on Monday. The stock has a fifty day moving average of $132.60 and a 200-day moving average of $160.44. The company has a market capitalization of $9.67 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.49 and a beta of 1.84. 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 released its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.23. The business had revenue of $995.69 million for the quarter, compared to analyst estimates of $980.75 million. Align Technology had a net margin of 9.50% and a return on equity of 14.06%. Align Technology’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $2.35 earnings per share. Align Technology has set its Q4 2025 guidance at EPS. On average, equities research 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 initiated a stock repurchase plan on Tuesday, August 5th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the medical equipment provider to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Jefferies Financial Group boosted their price target on Align Technology from $140.00 to $155.00 in a research report on Thursday, October 30th. Mizuho reduced their target price on Align Technology from $210.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, October 13th. HSBC increased their price target on Align Technology from $140.00 to $150.00 in a research note on Friday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Finally, Leerink Partners upped their price objective on shares of Align Technology from $172.00 to $189.00 in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $175.45.

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.