Allspring Global Investments Holdings LLC Has $5.72 Million Position in Align Technology, Inc. $ALGN

Allspring Global Investments Holdings LLC reduced its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 83.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 29,425 shares of the medical equipment provider’s stock after selling 143,645 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Align Technology were worth $5,717,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Cromwell Holdings LLC lifted its holdings 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. Center for Financial Planning Inc. acquired a new stake in Align Technology in the first quarter worth $35,000. SVB Wealth LLC acquired a new stake in Align Technology in the first quarter worth $36,000. Farther Finance Advisors LLC raised its holdings in Align Technology by 42.2% in the second quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider’s stock worth $59,000 after purchasing an additional 92 shares during the period. Finally, Mather Group LLC. raised its holdings in Align Technology by 375.0% in the first quarter. Mather Group LLC. now owns 437 shares of the medical equipment provider’s stock worth $69,000 after purchasing an additional 345 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on ALGN. Leerink Partners cut their target price on shares of Align Technology from $188.00 to $172.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. Morgan Stanley reiterated an “equal weight” rating and issued a $154.00 target price (down from $249.00) on shares of Align Technology in a report on Thursday, July 31st. Evercore ISI cut their target price on shares of Align Technology from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Mizuho cut their target price on shares of Align Technology from $210.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, October 13th. Finally, Stifel Nicolaus cut their target price on shares of Align Technology from $275.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Align Technology presently has a consensus rating of “Hold” and a consensus price target of $182.67.

Insiders Place Their Bets

In other Align Technology news, CEO Joseph M. Hogan bought 7,576 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average price of $131.49 per share, with a total value of $996,168.24. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

Align Technology Stock Up 0.5%

Shares of ALGN stock opened at $130.45 on Monday. The firm has a fifty day moving average of $134.71 and a 200-day moving average of $163.36. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $246.19. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 1.48 and a beta of 1.70.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data 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 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 EPS. 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, equities analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology declared that its board has authorized a share repurchase plan on Tuesday, August 5th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the medical equipment provider to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management 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.