ALGN Stock Summary and Trading Ideas (Align Technology | NASDAQ:ALGN)

Align Technology is the leading manufacturer of clear aligners. Invisalign, its main product, was approved by the Food and Drug Administration in 1998 and has since dominated, controlling over 90% of the market. Invisalign can treat roughly 90% of all malocclusion cases (misaligned teeth), and there are over 230,000 Invisalign-trained dentists and orthodontists. In 2022, Invisalign treated over 2 million cases, or roughly 10% of all orthodontic cases for the year, and it has treated over 14 million patients since its launch. Align also sells intraoral scanners under the brand iTero, which captures digital impressions of patients' teeth and illustrates treatment plans. Over 85% of Invisalign cases are submitted by digital scans, and iTero scans make up over half of these scans.

Align Technology trades on the NASDAQ stock market under the symbol ALGN.

As of November 8, 2024, ALGN stock price declined to $220.51 with 785,629 million shares trading.

ALGN has a beta of 1.53, meaning it tends to be more sensitive to market movements. ALGN has a correlation of 0.26 to the broad based SPY ETF.

ALGN has a market cap of $16.46 billion. This is considered a Large Cap stock.

Last quarter Align Technology reported $978 million in Revenue and $2.35 earnings per share. This fell short of revenue expectation by $-9 million and exceeded earnings estimates by $.04.

In the last 3 years, ALGN traded as high as $713.33 and as low as $172.05.

The top ETF exchange traded funds that ALGN belongs to (by Net Assets): VTI, VOO, VO, SPY, IVV.

ALGN has underperformed the market in the last year with a price return of +11.6% while the SPY ETF gained +38.5%. ALGN has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +8.1% and +1.9%, respectively, while the SPY returned +15.7% and +3.3%, respectively.

ALGN support price is $217.02 and resistance is $227.34 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ALGN shares will trade within this expected range on the day.