Sumitomo Mitsui Financial Group Inc. Purchases Shares of 2,800 Align Technology, Inc. $ALGN

Sumitomo Mitsui Financial Group Inc. bought a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the second quarter, HoldingsChannel.com reports. The fund bought 2,800 shares of the medical equipment provider’s stock, valued at approximately $528,000.

Other large investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC increased its position in shares of Align Technology by 140.3% during the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 87 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of Align Technology by 7,650.0% during 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 during the last quarter. Cromwell Holdings LLC increased 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 worth $34,000 after purchasing an additional 174 shares during the period. SVB Wealth LLC purchased a new stake in shares of Align Technology during the first quarter valued at $36,000. Finally, MAI Capital Management lifted its holdings in Align Technology by 84.8% during the 2nd quarter. MAI Capital Management now owns 255 shares of the medical equipment provider’s stock valued at $48,000 after buying an additional 117 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Down 0.2%

Shares of NASDAQ ALGN opened at $147.23 on Thursday. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $246.19. The business’s 50 day moving average price is $133.85 and its 200 day moving average price is $157.02. The firm has a market cap of $10.56 billion, a P/E ratio of 28.53, a P/E/G ratio of 1.49 and a beta of 1.84.

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

Align Technology declared that its board has authorized a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on ALGN. HSBC raised their price objective on Align Technology from $140.00 to $150.00 in a report on Friday, October 31st. Weiss Ratings cut Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Wells Fargo & Company cut their target price on Align Technology from $199.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Evercore ISI reduced their price objective on shares of Align Technology from $220.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Jefferies Financial Group raised their price objective on Align Technology from $140.00 to $155.00 in a research report on Thursday, October 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Align Technology presently has a consensus rating of “Hold” and an average price target of $175.45.

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.