Sumitomo Mitsui Financial Group Inc. Purchases Shares of 2,800 Align Technology, Inc. $ALGN

Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,800 shares of the medical equipment provider’s stock, valued at approximately $528,000.

A number of other institutional investors also recently made changes to their positions in ALGN. Rothschild Investment LLC grew its stake in shares of Align Technology by 140.3% during the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 87 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of Align Technology by 7,650.0% during the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 153 shares during the period. Cromwell Holdings LLC lifted its holdings in Align Technology by 2,900.0% in the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 174 shares during the period. SVB Wealth LLC bought a new position in shares of Align Technology during the first quarter valued at approximately $36,000. Finally, MAI Capital Management raised its holdings in Align Technology by 84.8% in the 2nd quarter. MAI Capital Management now owns 255 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Down 0.2%

Shares of NASDAQ:ALGN opened at $147.23 on Thursday. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $246.19. The stock has a market capitalization of $10.56 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 1.49 and a beta of 1.84. The firm’s 50 day moving average price is $133.85 and its 200-day moving average price is $157.02.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.23. The business had revenue of $995.69 million for the quarter, compared to analysts’ expectations of $980.75 million. Align Technology had a net margin of 9.50% and a return on equity of 14.06%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.35 EPS. Align Technology has set its Q4 2025 guidance at EPS. Analysts expect 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 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Morgan Stanley upped their target price on Align Technology from $142.00 to $154.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Stifel Nicolaus set a $200.00 price target on Align Technology in a research note on Thursday, October 30th. Leerink Partners lifted their price target on Align Technology from $172.00 to $189.00 in a research report on Thursday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $200.00 target price (up previously from $190.00) on shares of Align Technology in a research note on Thursday, October 30th. Finally, HSBC lifted their target price on Align Technology from $140.00 to $150.00 in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average 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.