Align Technology, Inc. (ALGN)

Align Technology's stock price has experienced fluctuations in the past six months, with a share price decline of 24.18% between July 19, 2024, and July 18, 2025. As of April 1, 2025, the stock had plunged 49.1% over the past year, and as of June 27, 2025, the shares had lost 22.2% in the past year. Key events include the announcement of Q4 2024 financial results and a plan to repurchase $275.0 million of its common stock on February 5, 2025. Wells Fargo initiated coverage with an "Overweight" recommendation on February 14, 2025, while HSBC downgraded its outlook from Buy to Hold on April 25, 2025. The company projected Q1 worldwide revenues to be down sequentially from Q4 due to unfavorable foreign exchange and lower capital equipment sales. Align Technology announced the commercial launch of an innovative Invisalign System with mandibular advancement featuring occlusal blocks in Singapore and India and hosted its 2025 Invisalign Asia Pacific Summit in Bangkok, Thailand.

Demand for Align Technology's products and services exhibits some seasonality, with the company anticipating its first-quarter revenues to be sequentially lower than the fourth quarter, primarily due to historical Q1 seasonality and lower capital equipment sales. In the fourth quarter of 2024, clear aligner revenues were impacted by more pronounced seasonality, especially in China, alongside weak consumer sentiment and a soft dental market in the U.S. Despite this, the Clear Aligner volume in 2024 still saw a 3.5% increase over 2023, indicating overall growth despite seasonal fluctuations. From a stock performance perspective, November has historically shown the highest probability of a positive return for ALGN stock (90.00%), while October has the lowest (40.00%), suggesting some seasonality in investor behavior. The long-term outlook for cosmetic dentistry demand remains promising.

Align Technology, Inc. is a global medical device company specializing in digital orthodontic solutions, operating in the healthcare sector, specifically in the Medical Instruments & Supplies and Medical Devices & Instruments industries. The company designs, manufactures, and markets dental and medical devices, including the Invisalign system of clear aligners and iTero intra-oral scanners. Align Technology also offers exocad CAD/CAM software, integrating these products into a seamless digital workflow for dental professionals. The company leverages advanced technologies such as 3D printing and computer-aided design (CAD) to produce custom aligners.

Align Technology's headquarters is located in Tempe, Arizona, United States, and it has a broad global presence with employees across six continents, including North America, Europe, and Asia. Its net sales are geographically distributed, with the United States accounting for 43.1%, Switzerland for 30.3%, and other regions for 26.6%. Align Technology has a global manufacturing footprint with 13 facilities across over 100 markets and maintains treatment planning facilities in Poland, Germany, and Spain. The company is actively expanding its sales and marketing efforts into new countries and regions, including areas within Africa and Latin America.

Align Technology maintains a strong brand reputation, particularly for its Invisalign system, which is recognized as a trusted brand among practitioners. The company's brand recognition and reputation are significant contributors to its competitive advantage. In the past year, Align Technology celebrated reaching 20 million Invisalign smiles globally and 3 million smiles across the Asia Pacific region at its 2025 Invisalign Asia Pacific Summit. The Invisalign brand also engaged in a first-time film collaboration with Disney's "Freakier Friday," aiming to promote teen confidence and smiles. While the brand is strong, the company faces risks from intensifying competition from lower-cost providers and direct-to-consumer entrants, as well as patent expirations outside the U.S.

Align Technology is predominantly owned by institutional shareholders, who hold 90.04% of the company, while insiders own 16.18%, and retail investors hold 0.00%. Joseph Lacob is the largest individual shareholder, owning 3.84 million shares, representing 5.29% of the company. Major institutional owners include Vanguard Group Inc, BlackRock Inc, State Street Corp, Wellington Management Group LLP, Ninety One UK Ltd, Geode Capital Management LLC, T. Rowe Price Investment Management Inc, and Citadel Advisors LLC.