Fifth Third Bancorp Sells 1,050 Shares of Align Technology, Inc. $ALGN

Fifth Third Bancorp decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 28.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,603 shares of the medical equipment provider’s stock after selling 1,050 shares during the quarter. Fifth Third Bancorp’s holdings in Align Technology were worth $493,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC bought a new stake in Align Technology during the 2nd quarter valued at approximately $325,000. Argent Capital Management LLC raised its holdings in Align Technology by 163.3% in the 2nd quarter. Argent Capital Management LLC now owns 113,417 shares of the medical equipment provider’s stock valued at $21,473,000 after acquiring an additional 70,344 shares in the last quarter. GAMMA Investing LLC raised its holdings in Align Technology by 84.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,458 shares of the medical equipment provider’s stock valued at $276,000 after acquiring an additional 666 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Align Technology by 11.2% in the 2nd quarter. Park Avenue Securities LLC now owns 2,668 shares of the medical equipment provider’s stock valued at $505,000 after acquiring an additional 269 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Align Technology by 42.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider’s stock valued at $59,000 after acquiring an additional 92 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Insiders Place Their Bets

In other Align Technology news, CEO Joseph M. Hogan purchased 7,576 shares of the company’s stock in a transaction that occurred on 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 acquisition, the chief executive officer directly owned 184,945 shares of the company’s stock, valued at approximately $24,318,418.05. This trade represents a 4.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ALGN shares. Mizuho set a $210.00 price target on Align Technology in a report on Thursday, July 31st. Evercore ISI upped their price target on Align Technology from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $154.00 price target (down previously from $249.00) on shares of Align Technology in a report on Thursday, July 31st. Zacks Research cut Align Technology from a “hold” rating to a “strong sell” rating in a report on Monday, September 1st. Finally, Stifel Nicolaus cut their price target on Align Technology from $275.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, July 31st. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.00.

Align Technology Trading Up 0.1%

Shares of ALGN opened at $126.37 on Tuesday. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $256.22. The stock has a 50 day simple moving average of $146.05 and a 200-day simple moving average of $166.78. The stock has a market cap of $9.16 billion, a PE ratio of 21.31, a PEG ratio of 1.42 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last released its quarterly 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 business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business earned $2.41 earnings per share. The company’s revenue for the quarter 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 announced that its board has authorized a share buyback plan on Tuesday, August 5th that allows the company to buyback $200.00 million in shares. This buyback authorization allows 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 board of directors believes its stock is 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.