Exchange Traded Concepts LLC Sells 494 Shares of Align Technology, Inc. $ALGN

Exchange Traded Concepts LLC reduced its stake in Align Technology, Inc. (NASDAQ:ALGN) by 10.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,435 shares of the medical equipment provider’s stock after selling 494 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Align Technology were worth $840,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Compagnie Lombard Odier SCmA bought a new stake in Align Technology in the first quarter valued at $32,000. Center for Financial Planning Inc. bought a new stake in Align Technology in the first quarter valued at $35,000. SVB Wealth LLC bought a new stake in shares of Align Technology during the first quarter worth about $36,000. Mather Group LLC. increased its position in shares of Align Technology by 375.0% during the first quarter. Mather Group LLC. now owns 437 shares of the medical equipment provider’s stock worth $69,000 after acquiring an additional 345 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Align Technology by 18.8% during the first quarter. Covestor Ltd now owns 493 shares of the medical equipment provider’s stock worth $78,000 after acquiring an additional 78 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Align Technology

In related news, CEO Joseph M. Hogan bought 7,576 shares of Align Technology stock in a transaction dated Friday, August 1st. The stock was purchased at an average cost of $131.49 per share, with a total value of $996,168.24. Following the transaction, the chief executive officer directly owned 184,945 shares of the company’s stock, valued at approximately $24,318,418.05. The trade was a 4.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ALGN has been the subject of several recent research reports. Morgan Stanley reissued an “equal weight” rating and set a $154.00 target price (down from $249.00) on shares of Align Technology in a research report on Thursday, July 31st. Zacks Research downgraded shares of Align Technology from a “hold” rating to a “strong sell” rating in a research report on Monday, September 1st. Piper Sandler decreased their target price on shares of Align Technology from $250.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. Stifel Nicolaus decreased their target price on shares of Align Technology from $275.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, July 31st. Finally, Wells Fargo & Company decreased their target price on shares of Align Technology from $246.00 to $199.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and a consensus target price of $215.00.

Align Technology Stock Performance

Shares of ALGN stock opened at $129.00 on Wednesday. Align Technology, Inc. has a 52-week low of $127.70 and a 52-week high of $260.35. The company has a 50-day simple moving average of $151.18 and a two-hundred day simple moving average of $167.80. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.48 and a beta of 1.65.

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

Align Technology declared that its board has authorized a share buyback 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 often a sign that the company’s leadership believes its shares are undervalued.

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.