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Why Investors Should Buy Align Technology (ALGN) Right Now
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California-based Align Technology, Inc. (ALGN - Free Report) , the designer and manufacturer of Invisalign System, has rallied 51.9% over the last six months, ahead of the S&P 500’s 7.9% gain. The stock has a market cap of $12.02 billion.The company’s five-year historical growth rate is also favorable at 19.5% as compared to 2.8% of the S&P 500 index and 11.4% of the broader industry.
Also, the company represented a return of almost 89.4%, better than the Zacks categorized Medical - Dental Supplies sub-industry's gain of 23.1% over the last year.
With solid growth prospects, this Zacks Rank #1 (Strong Buy) stock is an attractive pick at present.
Let’s find out whether the recent positive trend is a sustainable one.
The company’s estimate revision trend for the current year has also been positive. In the past 60 days, 10 analysts moved north, with no movement in the opposite direction. The magnitude of estimate revision increased around 9% to $3.27 per share over the same time frame.
Recently, Align Technology has been added to that the Standard & Poor's (S&P) S&P 500 Index. The company has been added to the S&P 500 GICS Health Care Supplies Sub-Industry Index. This proves that the company has been performing consistently well over the last few years.
The company recently inaugurated an Invisalign treatment planning facility in Chengdu, China. This new set-up represents Align Technology’s first manufacturing operation base in China, in line with the company’s goal of geographic expansion and investment in the high potential Asia-Pacific market. The Chengdu Treatment Planning and Training Centre of Excellence will serve as a major training facility to educate doctors across the region about the company's latest product and technology innovation.
Further, the company announced a software upgrade to its iTero Element intraoral scanners. This upgrade includes a new TimeLapse technology which provides general practitioner (GP) dentists and orthodontists with improved visualization, assessment and communication tools allowing them to compare patient scans over time. With the latest 1.5 software update, patient scan can now be completed within a minute with the same accuracy and reliability. Apart from the TimeLapse technology and one minute scanning facility, the software offers features like Multi-Bite scanning, Optimized Scan Feedback, quick shut down, color improvement, and more.
Also, we are optimistic about the company’s receipt oftwo U.S. patents from the United States Patent and Trademark Office (USPTO) for its SmartTrack clear aligner material, which was introduced in 2013.
However, a major downside to the current rank is adverse foreign exchange which continues to remain a major dampener for the company’s international businesses. Moreover, a competitive landscape in the overseas market mars Align Technology’s prospects.
Lantheus Holdings has an expected long-term adjusted earnings growth of almost 12.5%. The stock has added roughly 26.9% over the last three months.
Inogen has a long-term expected earnings growth rate of 17.5%. The stock has gained around 25.2% over the last three months.
Accelerate Diagnostics has an expected long-term adjusted earnings growth of 30%. The stock has gained roughly 34.9% over the last three months.
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 "Strong Sells." Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>
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Why Investors Should Buy Align Technology (ALGN) Right Now
California-based Align Technology, Inc. (ALGN - Free Report) , the designer and manufacturer of Invisalign System, has rallied 51.9% over the last six months, ahead of the S&P 500’s 7.9% gain. The stock has a market cap of $12.02 billion.The company’s five-year historical growth rate is also favorable at 19.5% as compared to 2.8% of the S&P 500 index and 11.4% of the broader industry.
Also, the company represented a return of almost 89.4%, better than the Zacks categorized Medical - Dental Supplies sub-industry's gain of 23.1% over the last year.
With solid growth prospects, this Zacks Rank #1 (Strong Buy) stock is an attractive pick at present.
Let’s find out whether the recent positive trend is a sustainable one.
The company’s estimate revision trend for the current year has also been positive. In the past 60 days, 10 analysts moved north, with no movement in the opposite direction. The magnitude of estimate revision increased around 9% to $3.27 per share over the same time frame.
Recently, Align Technology has been added to that the Standard & Poor's (S&P) S&P 500 Index. The company has been added to the S&P 500 GICS Health Care Supplies Sub-Industry Index. This proves that the company has been performing consistently well over the last few years.
The company recently inaugurated an Invisalign treatment planning facility in Chengdu, China. This new set-up represents Align Technology’s first manufacturing operation base in China, in line with the company’s goal of geographic expansion and investment in the high potential Asia-Pacific market. The Chengdu Treatment Planning and Training Centre of Excellence will serve as a major training facility to educate doctors across the region about the company's latest product and technology innovation.
Further, the company announced a software upgrade to its iTero Element intraoral scanners. This upgrade includes a new TimeLapse technology which provides general practitioner (GP) dentists and orthodontists with improved visualization, assessment and communication tools allowing them to compare patient scans over time. With the latest 1.5 software update, patient scan can now be completed within a minute with the same accuracy and reliability. Apart from the TimeLapse technology and one minute scanning facility, the software offers features like Multi-Bite scanning, Optimized Scan Feedback, quick shut down, color improvement, and more.
Also, we are optimistic about the company’s receipt oftwo U.S. patents from the United States Patent and Trademark Office (USPTO) for its SmartTrack clear aligner material, which was introduced in 2013.
However, a major downside to the current rank is adverse foreign exchange which continues to remain a major dampener for the company’s international businesses. Moreover, a competitive landscape in the overseas market mars Align Technology’s prospects.
Other Key Picks
Other top-ranked medical stocks are Lantheus Holdings, Inc. (LNTH - Free Report) , Inogen, Inc. (INGN - Free Report) and Accelerate Diagnostics, Inc. (AXDX - Free Report) . Notably, Lantheus Holdings and Inogen sport a Zacks Rank #1, while Accelerate Diagnostics carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Lantheus Holdings has an expected long-term adjusted earnings growth of almost 12.5%. The stock has added roughly 26.9% over the last three months.
Inogen has a long-term expected earnings growth rate of 17.5%. The stock has gained around 25.2% over the last three months.
Accelerate Diagnostics has an expected long-term adjusted earnings growth of 30%. The stock has gained roughly 34.9% over the last three months.
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 "Strong Sells." Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>