Public Employees Retirement System of Ohio Has $4.14 Million Stock Holdings in Align Technology, Inc. $ALGN

Public Employees Retirement System of Ohio lessened its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 21,838 shares of the medical equipment provider’s stock after selling 1,238 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Align Technology were worth $4,135,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 185,187 shares during the last quarter. Ninety One UK Ltd increased its position in Align Technology by 58.7% during the first quarter. Ninety One UK Ltd now owns 1,937,555 shares of the medical equipment provider’s stock worth $307,800,000 after acquiring an additional 716,954 shares during the period. Invesco Ltd. increased its position 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 worth $193,764,000 after acquiring an additional 137,553 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 acquiring an additional 202,616 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in Align Technology by 0.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 736,635 shares of the medical equipment provider’s stock worth $117,022,000 after acquiring an additional 4,789 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Trading Down 0.9%

ALGN opened at $125.22 on Wednesday. The company’s 50 day moving average is $144.67 and its 200-day moving average is $166.49. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $256.22. The company has a market cap of $9.08 billion, a P/E ratio of 21.12, a PEG ratio of 1.42 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last posted 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 company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the business posted $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, equities analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology announced that its board has approved a stock repurchase program on Tuesday, August 5th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the medical equipment provider to purchase up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Align Technology

In related news, CEO Joseph M. Hogan purchased 7,576 shares of Align Technology stock in a transaction dated Friday, August 1st. The shares were bought at an average cost of $131.49 per share, for a total transaction of $996,168.24. Following the purchase, the chief executive officer owned 184,945 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ALGN. Mizuho set a $210.00 price target on shares of Align Technology in a research report on Thursday, July 31st. Evercore ISI raised their price target on shares of Align Technology from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Zacks Research lowered shares of Align Technology from a “hold” rating to a “strong sell” rating in a research report on Monday, September 1st. Wells Fargo & Company lowered their price target on shares of Align Technology from $246.00 to $199.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Finally, Piper Sandler lowered their price target on shares of Align Technology from $250.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.