Who's Thanking Align Technology This November?

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Who's Thanking Align Technology This November? PART 1 OF 5

What Align Technology’s Analysts Are Thinking Now

Financial performance in 3Q17

In 3Q17, Align Technology (ALGN) reported total revenues close to $385.3 million, which represents YoY (year-over-year) growth of ~38.3% and QoQ (quarter-over-quarter) growth of ~8.1%. This growth was driven by the rapid uptake of Invisalign cases across geographies and rising demand for iTero scanners.

In 3Q17, Align reported revenues of $341.6 million from the sale of Clear Aligners, representing 6.4% growth on QoQ basis and 40.2% rise on YoY basis. This was attributed to a higher-than-anticipated rise in Invisalign cases across geographies, increasing Invisalign average prices, as well as higher-than-projected aligner shipments to SmileDirectClub or SDC.

What Align Technology&#8217;s Analysts Are Thinking Now

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In 3Q17, Align Technology’s clear aligner shipments to SDC were almost two times higher than in the previous quarter and accounted for almost two-third of SDC’s clear aligner volume. The company is the exclusive third-party supplier for SDC and manufactured a higher number of aligners for SDC than those produced by SDC.

Although the sudden rise in demand for SDC wasn’t anticipated, Align Technology’s world-class manufacturing capabilities were able to accommodate the sudden spurt in requirement.

Notably, Align Technology accounts for ~6.9% of the Vanguard Small-Cap Growth ETF’s (VBK) total portfolio holdings.

Analysts’ recommendations for Align Technology and peers

Of the 11 analysts covering Align Technology in November 2017, seven recommend a “strong buy,” and four recommend a “buy.”

Of the 13 analysts covering Dentsply Sirona (XRAY) in November 2017, 61.5% of them have rated the stock a “buy.” About 76.5% of the 17 analysts covering Danaher (DHR) recommend a “buy,” while 33.3% of the 15 analysts tracking 3M Company (MMM) recommend a “buy.”

In the next part of this series, we’ll take a look at revenue growth projections for Align Technology for 2017.


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