Ninety One North America Inc. Has $26.34 Million Position in Align Technology, Inc. $ALGN

Ninety One North America Inc. boosted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 46.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 139,133 shares of the medical equipment provider’s stock after purchasing an additional 44,135 shares during the quarter. Align Technology comprises 1.3% of Ninety One North America Inc.’s holdings, making the stock its 29th largest position. Ninety One North America Inc.’s holdings in Align Technology were worth $26,342,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Truist Financial Corp raised its stake in Align Technology by 2.3% during the second quarter. Truist Financial Corp now owns 4,227 shares of the medical equipment provider’s stock worth $800,000 after acquiring an additional 95 shares in the last quarter. Signaturefd LLC raised its stake in Align Technology by 17.1% during the second quarter. Signaturefd LLC now owns 961 shares of the medical equipment provider’s stock worth $182,000 after acquiring an additional 140 shares in the last quarter. Patton Fund Management Inc. acquired a new position in Align Technology during the second quarter worth $227,000. Bank Pictet & Cie Europe AG acquired a new position in Align Technology during the second quarter worth $930,000. Finally, Banque Pictet & Cie SA raised its stake in Align Technology by 20.4% during the second quarter. Banque Pictet & Cie SA now owns 17,527 shares of the medical equipment provider’s stock worth $3,318,000 after acquiring an additional 2,968 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Down 0.9%

Align Technology stock opened at $125.22 on Wednesday. The business’s 50-day simple moving average is $144.67 and its 200 day simple moving average is $166.49. The stock has a market cap of $9.08 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 1.42 and a beta of 1.65. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $256.22.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, July 30th. The medical equipment provider reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.57 by ($0.08). The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.06 billion. Align Technology had a net margin of 11.04% and a return on equity of 13.36%. Align Technology’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.41 EPS. Align Technology has set its Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology declared that its board has initiated a stock repurchase plan on Tuesday, August 5th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the medical equipment provider to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Align Technology

In other news, CEO Joseph M. Hogan purchased 7,576 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average price of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the acquisition, the chief executive officer directly owned 184,945 shares in the company, valued at approximately $24,318,418.05. The trade was a 4.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ALGN shares. Piper Sandler lowered their target price on Align Technology from $250.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Zacks Research lowered Align Technology from a “hold” rating to a “strong sell” rating in a research note on Monday, September 1st. Evercore ISI raised their target price on Align Technology from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Morgan Stanley restated an “equal weight” rating and issued a $154.00 target price (down from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. Finally, Mizuho set a $210.00 target price on Align Technology in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

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.