ALIGN TECHNOLOGY, INC.
In the published model solve dated 2026-Q2, anchored at $157.58, ALIGN TECHNOLOGY, INC. (ALGN) is priced for today's economics sustained for ~7.7 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Align earns about four dollars in five from Invisalign clear aligners, and the engine of that business has quietly changed: shipments keep setting records while revenue per case fell ⟦by 3.9% from $1,295 in 2024 to $1,245 in 2025⟧, so growth now comes from selling more, not from selling dearer. • Today's price carries about 20 times company-wide operating income and needs close to nine more years of compounding at the quickest pace the business can fund from its own cash, set against a trailin
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662 institutional managers reported holding ALGN in 13F filings for the quarter ended 2026-03-31. 103 opened new positions that quarter. Held by Vanguard Group, BlackRock, Capital Group (American Funds), among others. On the short side, 4.7M shares were sold short as of the 2026-06-15 count, about 7% of shares outstanding (5.1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
ALGN has cut its share count 9.6% over the past five years, spending $2.09B on repurchases. It pays no dividend. Cash returned over the past three years: $1.15B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at ALGN over the trailing three years: 2023: 2 buys totaling $2.00M; 2024: 1 buy totaling $1.53M; 2025: 2 buys totaling $1.00M. 13 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
ALGN's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-05-06 | -9.6% | +5.1% |
| 2023-08-05 | +16.0% | -21.3% |
| 2023-11-04 | +0.2% | +34.1% |
| 2024-05-04 | -0.5% | -15.4% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
ALGN's latest 8-K filings: 2026-07-29 (items 7.01, 9.01); 2026-07-29 (items 2.02, 9.01); 2026-07-09 (items 5.02); 2026-06-22 (items 5.02, 7.01, 9.01); 2026-05-20 (items 5.07, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.