Align TechnologyALGN
About: Align Technology is the leading manufacturer of clear aligners. Invisalign, its main product, was approved by the Food and Drug Administration in 1998 and 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.
Employees: 21,805
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
0% more funds holding in top 10
Funds holding in top 10: 6 [Q1] → 6 (+0) [Q2]
1.34% less ownership
Funds ownership: 87.05% [Q1] → 85.71% (-1.34%) [Q2]
6% less funds holding
Funds holding: 794 [Q1] → 749 (-45) [Q2]
17% less repeat investments, than reductions
Existing positions increased: 246 | Existing positions reduced: 297
27% less capital invested
Capital invested by funds: $21.4B [Q1] → $15.6B (-$5.83B) [Q2]
33% less call options, than puts
Call options by funds: $251M | Put options by funds: $373M
34% less first-time investments, than exits
New positions opened: 89 | Existing positions closed: 134
Research analyst outlook
7 Wall Street Analysts provided 1 year price targets over the past 3 months
7 analyst ratings
Stifel Jonathan Block 57% 1-year accuracy 16 / 28 met price target | 28%upside $285 | Buy Maintained | 11 Oct 2024 |
Evercore ISI Group Elizabeth Anderson 45% 1-year accuracy 14 / 31 met price target | 22%upside $270 | Outperform Maintained | 8 Oct 2024 |
Piper Sandler Jason Bednar 55% 1-year accuracy 23 / 42 met price target | 42%upside $315 | Overweight Maintained | 13 Sept 2024 |
Morgan Stanley Erin Wright 53% 1-year accuracy 10 / 19 met price target | 40%upside $310 | Overweight Maintained | 25 Jul 2024 |
Stifel Jonathan Block 57% 1-year accuracy 16 / 28 met price target | 58%upside $350 | Buy Maintained | 25 Jul 2024 |