On Oct 1, we issued an updated research report on Align Technology, Inc. ALGN. The company is riding on strong product development and a consistent focus on international markets. However, the current coronavirus-led economic unrest casts a negative impact on Align Technology’s dental procedures. The stock carries a Zacks Rank #3 (Hold).
Shares of the company have outperformed its industry over the past six months. The stock has surged 115.3% compared with the industry’s 25.1% rise.
Align Technology exited the second quarter of 2020 with better-than-expected revenues. Japan, APAC, Taiwan and South Korea saw successful recovery efforts and performed better than the company’s expectations. APAC’s growth was led by China, Taiwan, Hong Kong and South Korea’s position in the recovery curve. APAC reflected improving trends as practices reopened and got the Invisalign business back on track along with COVID-19 recovery measures implemented by Align Technology in China.