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Align Technology Inc ALGN

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Raising Our FVE and Upgrading Our Moat Rating for Align Following Refreshed Take

Dylan Finley, CFA Equity Analyst

Analyst Note

| Dylan Finley, CFA |

After taking a fresh look at Align Technology, we’re more optimistic about our growth and margin forecasts and have upgraded our moat rating to narrow from none and our moat trend rating to stable from negative. Together these lead us to increase our fair value estimate to $628 per share from $259.

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Company Profile

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).

Contact
410 North Scottsdale Road, Suite 1300
Tempe, AZ, 85281
T +1 408 470-1000
Sector Healthcare
Industry Medical Devices
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Aggressive Growth
Employees 20,395