Jackson Square Partners LLC Sells 112,667 Shares of Align Technology, Inc. $ALGN

Jackson Square Partners LLC lessened its stake in Align Technology, Inc. (NASDAQ:ALGN) by 83.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 22,836 shares of the medical equipment provider’s stock after selling 112,667 shares during the quarter. Align Technology comprises 1.6% of Jackson Square Partners LLC’s holdings, making the stock its 20th largest position. Jackson Square Partners LLC’s holdings in Align Technology were worth $4,324,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ALGN. True Wealth Design LLC grew its stake in Align Technology by 7,650.0% in the 2nd quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 153 shares in the last quarter. Cromwell Holdings LLC raised its stake in shares of Align Technology by 2,900.0% during the second quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider’s stock valued at $34,000 after acquiring an additional 174 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Align Technology in the first quarter valued at approximately $36,000. Farther Finance Advisors LLC grew its stake 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 in the last quarter. Finally, Covestor Ltd increased its holdings in Align Technology by 18.8% during the 1st quarter. Covestor Ltd now owns 493 shares of the medical equipment provider’s stock worth $78,000 after purchasing an additional 78 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ALGN shares. Jefferies Financial Group lifted their target price on Align Technology from $140.00 to $155.00 in a research report on Thursday, October 30th. Mizuho cut their price target on Align Technology from $210.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, October 13th. UBS Group decreased their price objective on Align Technology from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. HSBC upped their price objective on shares of Align Technology from $140.00 to $150.00 in a research note on Friday, October 31st. Finally, Zacks Research raised shares of Align Technology from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $175.45.

Align Technology Stock Up 0.8%

Shares of Align Technology stock opened at $134.84 on Friday. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $246.19. The firm’s 50 day moving average price is $132.60 and its 200-day moving average price is $160.65. The company has a market cap of $9.77 billion, a P/E ratio of 26.13, a PEG ratio of 1.49 and a beta of 1.84.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.23. The business had revenue of $995.69 million for the quarter, compared to analyst estimates of $980.75 million. Align Technology had a net margin of 9.50% and a return on equity of 14.06%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.35 earnings per share. Align Technology has set its Q4 2025 guidance at EPS. As a group, equities research analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology declared that its Board of Directors has initiated a stock buyback plan 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 shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.