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Align Technology (ALGN) operates as a medical device company.
It designs, manufactures, and markets a system of clear aligner therapy, intra-oral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services that are used in dentistry, orthodontics, and dental records storage.
The company operates through two segments: Clear Aligner, and Scanners and CAD/CAM Services.
The Clear Aligner segment offers Invisalign Full that is used for a range of malocclusion; Invisalign Express, Invisalign Lite, and Invisalign i7 solutions, which are used for less complex orthodontic cases, non-comprehensive treatment relapse cases, or straightening prior to restorative or cosmetic treatments; Invisalign Teen that addresses the orthodontic needs of teenage patients, such as eruption compensation; Invisalign Assist that is used for anterior alignment and aesthetically-oriented cases; and SmartTrack, a custom-engineered material that delivers constant force for orthodontic tooth movements. The Scanners and CAD/CAM Services segment provides iTero scanner system, a single hardware platform with software options for restorative or orthodontic procedures; Restorative software for iTero, a software that is designed for general practitioner dentists (GPs), prosthodontists, periodontists, and oral surgeons; and Orthodontic software for iTero, a software that is designed for orthodontists for digital records storage, orthodontic diagnosis, Invisalign digital impression submission, and fabrication of printed models and retainers.
The company distributes its products directly to orthodontists and GPs; and restorative dentists, including prosthodontists, periodontists, and oral surgeons.
Shares have formed a bullish "flag" following its better than expected earnings report from the company. Higher share prices are expected for this stock.
52-Week Trading Range: $23.45 - $60.00
Entry Point: $56.00
Stop Loss: $53.20
Target Price: $61.60
The weakness in ALGN is due to a large block sale. Align Technology 4.6M share Block Trade priced at $56.50 - Morgan Stanley acted as sole book running manager for the offering.
ALGN fell below our stop loss.
