#2 - Align Technology Inc. (NASDAQ:ALGN)
Align Technology Inc. (NASDAQ: ALGN) - Align Technology is one of the few shining stars in the dental sector. The maker of Invisalign invisible braces and iTero Element intraoral scanner was recognized by Goldman Sachs as one of its top stocks for 2019 with an estimated 22% increase in revenue in the coming year. One of the key anticipated drivers of the company's growth is the popularity of the Invisalign product with a key demographic, millennials. From dating apps to job interviews, these consumers are recognizing the importance of a great smile, particularly with the higher resolution of smartphones. And this type of consumer benefit is not limited to the United States. There is a worldwide market for their products.
Align Technology recently signed an agreement with Aspen Dental for both its iTero scanner and Invisalign product. Aspen Dental is not only the largest network of branded dental care practices; it’s also experiencing tremendously rapid growth. Case in point, a new office opens every five days. In short, there’s a huge and growing market for their products.
Although the company’s stock is selling at a premium over $372 and a P/E ratio of over 89, one analyst considers them to be the best buy in dental despite their high valuation.
About Align Technology
Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.
Read More - Current Price
- $313.78
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 3 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $344.45 (9.8% Upside)
