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Align Technology Inc ALGN Stock Quote

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Morningstar‘s Stock Analysis ALGN

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Is it the right time to buy or sell?
Is it the right time to buy or sell?

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Potential Recession Dims Align's Prospects; Lowering Our Fair Value Estimate

Debbie S. Wang Senior Equity Analyst

Analyst Note

| Debbie Wang |

We've lowered our fair value estimate for Align Technology to $331 per share, down from $461, as we've pared back our assumptions including significantly lower growth in 2022 and 2023 due to shifting consumer behavior as inflation, potential recession, and anemic stock market performance dampen demand for discretionary dental spending. Similar to LASIK vision correction and aesthetic surgical procedures, which tend to be sensitive to stock market conditions, we anticipate clear aligners are also likely to come under pressure through the near term. Further, as the premium product in this market, Invisalign could see potential customers switch to lower-priced competitors. Despite near-term turbulence, we remain comfortable with Align's narrow economic moat, which primarily stems from switching costs associated with its iTero scanners.

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Key Statistics ALGN

Company Profile ALGN

Business Description

Align is the leading manufacturer of clear dental aligners globally, having pioneered the technology with the introduction of its Invisalign branded aligners in 1998. Since then, Invisalign has become a household name, having treated over 10 million patients with malocclusion (misaligned teeth) through orthodontist and dentist-guided treatment plans. The company maintains dominant market share of clear aligners, despite the introduction of direct-to-consumer competitors upon the expiration of key patents that began in 2017. Align also manufactures intraoral scanners (iTero), used for orthodontic treatment and restorative dental procedures (digital models for crowns, veneers, and implants).

410 North Scottsdale Road, Suite 1300
Tempe, AZ, 85281
Industry Medical Devices
Employees 23,800

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FAQs for Align Technology Inc Stock

No. ALGN does not currently have a forward dividend yield.
Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price.

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ALGN’s market cap is 14.75 Bil.
Market capitalization is calculated by taking a company’s share price and multiplying it by the total number of shares. It’s often used to measure a company’s size. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70–90%, and small-cap names are the remaining 10% of companies.

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ALGN’s stock style is Mid Core.
Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

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ALGN’s price/sales is 3.86.
Price/sales represents the amount an investor is willing to pay for a dollar generated from a particular company’s sales or revenues.

ALGN’s price/forward earnings is 24.15.
Forward P/E gives some indication of how cheap or expensive a stock is compared with consensus earnings estimates. The lower the Forward P/E, the cheaper the stock.

ALGN’s price/book is 3.99.
Price/book ratio can tell investors approximately how much they’re paying for a company’s assets, based on historical, rather than current, valuations. Historical valuations generally do not reflect a company’s current market value. Value investors frequently look for companies that have low price/book ratios.

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ALGN’s beta can be found in Trading Information at the top of this page.
A stock’s beta measures how closely tied its price movements have been to the performance of the overall market.

Compare ALGN’s historical performance against its industry peers and the overall market.