Align Technology, Inc. $ALGN Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,784,726 shares of the medical equipment provider’s stock after selling 72,261 shares during the period. Geode Capital Management LLC’s holdings in Align Technology were worth $336,477,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALGN. PNC Financial Services Group Inc. boosted its position in shares of Align Technology by 11.3% in the second quarter. PNC Financial Services Group Inc. now owns 8,720 shares of the medical equipment provider’s stock worth $1,651,000 after acquiring an additional 888 shares during the last quarter. Factory Mutual Insurance Co. increased its position in Align Technology by 8.6% during the second quarter. Factory Mutual Insurance Co. now owns 220,293 shares of the medical equipment provider’s stock worth $41,708,000 after purchasing an additional 17,500 shares during the last quarter. Allworth Financial LP raised its stake in Align Technology by 8.8% during the second quarter. Allworth Financial LP now owns 2,782 shares of the medical equipment provider’s stock worth $527,000 after purchasing an additional 225 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in shares of Align Technology by 5.7% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 32,265 shares of the medical equipment provider’s stock valued at $6,109,000 after purchasing an additional 1,750 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Align Technology by 9.3% in the 2nd quarter. ProShare Advisors LLC now owns 12,151 shares of the medical equipment provider’s stock valued at $2,301,000 after purchasing an additional 1,033 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

Align Technology stock opened at $137.13 on Friday. The firm has a market capitalization of $9.84 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 1.49 and a beta of 1.84. Align Technology, Inc. has a one year low of $122.00 and a one year high of $246.19. The stock’s 50 day moving average price is $132.91 and its 200 day moving average price is $159.14.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. The company 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%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.35 earnings per share. Align Technology has set its Q4 2025 guidance at EPS. On average, analysts forecast 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 share buyback program on Tuesday, August 5th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the medical equipment provider to purchase up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALGN. Evercore ISI upped their price objective on Align Technology from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Thursday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price objective (up from $190.00) on shares of Align Technology in a research note on Thursday, October 30th. Zacks Research upgraded Align Technology from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 30th. Finally, Weiss Ratings downgraded shares of Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Align Technology presently has a consensus rating of “Hold” and an average target price of $175.45.

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.