Align Technology (ALGN) Announces $200 Million Open Market Stock Repurchase

Align Technology, Inc. (NASDAQ:ALGN) is one of the best falling stocks to buy now. On August 5, the company announced plans to buy back $200 million of its common stock through open-market transactions. This repurchase is part of Align’s broader $1.0 billion stock repurchase program, which the Board approved in April this year. The company stated further that the program will be financed with its cash on hand.

The timing and number of shares repurchased will depend on various factors, including market conditions, stock price, trading volume, general business conditions, and capital availability. Align’s management anticipates that the program will be completed by January 2026.

John Morici, Align’s CFO, stated that the decision to repurchase stock reflects management’s and the Board’s confidence in Align’s long-term strategy and market opportunity. He added that the decision highlights the strength of the company’s balance sheet and its ability to generate cash.

Align Technology, Inc. (NASDAQ:ALGN) is an American medical device company. It designs and manufactures Invisalign clear aligners, iTero intraoral scanners, and dental CAD/CAM software for orthodontic and restorative treatments. The company serves over 230,000 Invisalign-trained dentists and orthodontists globally and has treated more than 14 million patients since launch.

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Disclosure: None. This article is originally published at Insider Monkey.