Align Technology (ALGN) hosted its 2018 Investor Day on May 23. On the day, the company provided an updated long-term revenue growth target range and reaffirmed its Q2 2018 and 2018 guidances. It also discussed its key growth drivers, its digital platform, and its recently announced products, and it presented its Invisalign palatal expander for the first time.
Align also announced the authorization of a stock repurchase program and discussed its go-to-market strategy for various geographies along with its operational objectives and plans.
On May 23, ALGN stock registered a rise of 3.5%, and it reported a further rise of 2.9% on May 24. The stock’s price has rallied since then, reporting a 52-week high of $326.8 on May 29. The stock had registered a 52-week low of $139 a year earlier on June 12, 2017.
Year-to-date, ALGN stock has returned ~49%. However, recently, it has witnessed a volatile performance and returned ~26.3% over the last three months. In the last week, the stock has risen more than 11%.
Over the past year, ALGN stock has registered an exceptional return of ~131%, and it’s been among the highest S&P 500 stock performers. Over the same period, peers Zimmer Biomet Holdings (ZBH), Henry Schein (HSIC), and Dentsply Sirona (XRAY) have reported returns of -6.6%, -21.7%, and -27.4%, respectively.
In the next article, we’ll take a look at analysts’ recent recommendations and target prices for Align Technology.
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