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Align Technology: Top-Performing Stock in the S&P 500 in 2017

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Jan. 10 2018, Updated 3:36 p.m. ET

Align Technology’s stock price rises

On December 28, 2017, Align Technology (ALGN) was the top-performing stock in the S&P 500. The company has generated a return of ~130.0% over the past one-year period, and it has a market capitalization of $18.2 billion.

On December 28, ALGN stock closed at $226.50 per share. ALGN stock registered its 52-week high of $266.40 on November 27, 2017. The stock’s 52-week low was $88.60 per share, reported on January 30, 2017.

The S&P 500 Index consists of 500 large-cap US stocks and is representative of the broader US equities market. Apple (AAPL), Microsoft (MSFT), and Amazon (AMZN) are the stocks with the highest weights in the S&P 500 Index. The SPDR S&P 500 ETF (SPY) tracks the S&P 500 Index.

Align Technology manufactures a leading orthodontics product portfolio of 3D digital scanners and clear aligners. These products include iTero Intraoral scanners, OrthoCAD digital services, and Invisalign clear aligners.

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Developments impacting Align Technology’s stock price performance

On October 27, 2017, Align Technology (ALGN) reported its 3Q17 earnings results and registered a strong company performance exceeding analysts’ estimates. The development triggered positive investor sentiment, which led to a rise in the company’s stock price on the day.

On October 30, 2017, Morgan Stanley upgraded its target price on the stock to $300.00 per share, triggered by the strong 3Q17 earnings results and growth potential of the company. The development led to ALGN’s stock price registering a rise of ~3.0% on the day.

Over the past six months, Align Technology has registered a stock price return of ~48.8%, and the company’s three-month stock price return came in at ~24.0%.

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