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 FDA in 1998, and it 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 April 18, 2024, ALGN stock price climbed to $301.34 with 374,429 million shares trading.

ALGN has a beta of 2.63, meaning it tends to be more sensitive to market movements. ALGN has a correlation of 0.32 to the broad based SPY ETF.

ALGN has a market cap of $23.09 billion. This is considered a Large Cap stock.

In the last 3 years, ALGN stock traded as high as $737.45 and as low as $172.05.

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

ALGN stock has underperformed the market in the last year with a return of -13.3%, while SPY returned +22.3%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in ALGN shares. However, ALGN has outperformed the market in the last 3 month and 2 week periods, returning +16.1% and -2.8%, while SPY returned +6.1% and -3.8%, respectively. This indicates ALGN has been having a stronger performance recently.

ALGN support price is $292.51 and resistance is $307.77 (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 stock will trade within this expected range on the day.