QRG Capital Management Inc. Takes $306,000 Position in Align Technology, Inc. $ALGN

QRG Capital Management Inc. purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,616 shares of the medical equipment provider’s stock, valued at approximately $306,000.

Several other large investors have also made changes to their positions in the company. Ascent Group LLC lifted its stake in shares of Align Technology by 11.0% during the second quarter. Ascent Group LLC now owns 12,960 shares of the medical equipment provider’s stock valued at $2,454,000 after acquiring an additional 1,284 shares during the period. Cromwell Holdings LLC lifted its stake in Align Technology by 2,900.0% in the second quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 174 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in Align Technology by 286.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 144,189 shares of the medical equipment provider’s stock valued at $27,299,000 after buying an additional 106,853 shares during the period. Ninety One North America Inc. lifted its stake in Align Technology by 46.5% in the second quarter. Ninety One North America Inc. now owns 139,133 shares of the medical equipment provider’s stock valued at $26,342,000 after buying an additional 44,135 shares during the period. Finally, Truist Financial Corp lifted its stake in Align Technology by 2.3% in the second quarter. Truist Financial Corp now owns 4,227 shares of the medical equipment provider’s stock valued at $800,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of Align Technology stock opened at $125.79 on Friday. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $246.19. The business has a 50-day moving average of $135.61 and a two-hundred day moving average of $164.38. The company has a market capitalization of $9.12 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.70.

Align Technology (NASDAQ:ALGN) last announced 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). Align Technology had a return on equity of 13.36% and a net margin of 11.04%.The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company earned $2.41 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. Align Technology has set its Q3 2025 guidance at EPS. On average, equities analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on ALGN. Evercore ISI cut their target price on Align Technology from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday. Weiss Ratings lowered Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. Wells Fargo & Company cut their target price on Align Technology from $246.00 to $199.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Mizuho set a $210.00 target price on Align Technology in a research note on Thursday, July 31st. Finally, Piper Sandler cut their target price on Align Technology from $250.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Align Technology currently has a consensus rating of “Hold” and an average price target of $200.00.

Insider Activity

In other news, CEO Joseph M. Hogan acquired 7,576 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average cost of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the acquisition, the chief executive officer owned 184,945 shares in the company, valued at $24,318,418.05. This represents a 4.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

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.