Rhenman & Partners Asset Management AB Buys 25,000 Shares of Align Technology, Inc. $ALGN

Rhenman & Partners Asset Management AB boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 60.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,500 shares of the medical equipment provider’s stock after purchasing an additional 25,000 shares during the quarter. Align Technology makes up 1.6% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 24th largest position. Rhenman & Partners Asset Management AB owned about 0.09% of Align Technology worth $12,590,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Align Technology by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 8,441,592 shares of the medical equipment provider’s stock worth $1,341,031,000 after acquiring an additional 185,187 shares during the period. Invesco Ltd. boosted its stake in Align Technology by 12.7% during the first quarter. Invesco Ltd. now owns 1,219,715 shares of the medical equipment provider’s stock valued at $193,764,000 after buying an additional 137,553 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Align Technology by 32.2% during the first 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 worth $132,221,000 after buying an additional 202,616 shares in the last quarter. Navera Investment Management Ltd. increased its stake in Align Technology by 3.0% in the 2nd quarter. Navera Investment Management Ltd. now owns 787,559 shares of the medical equipment provider’s stock worth $149,126,000 after acquiring an additional 23,080 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Align Technology by 0.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 736,635 shares of the medical equipment provider’s stock valued at $117,022,000 after acquiring an additional 4,789 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Price Performance

NASDAQ:ALGN opened at $147.50 on Wednesday. The firm’s 50-day moving average price is $133.49 and its 200-day moving average price is $157.09. The company has a market capitalization of $10.58 billion, a PE ratio of 28.59, a P/E/G ratio of 1.49 and a beta of 1.84. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $246.19.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 14.06%. The business had revenue of $995.69 million during the quarter, compared to the consensus estimate of $980.75 million. During the same quarter last year, the firm earned $2.35 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Align Technology has set its Q4 2025 guidance at EPS. Equities analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 5th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the medical equipment provider to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Align Technology from $199.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Morgan Stanley increased their price target on shares of Align Technology from $142.00 to $154.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Mizuho dropped their price objective 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. Jefferies Financial Group increased their target price on Align Technology from $140.00 to $155.00 in a research note on Thursday, October 30th. Finally, Wall Street Zen upgraded Align Technology from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Align Technology currently has an average rating of “Hold” and an average price target of $175.45.

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.