Technology has enhanced human life to a great extent. From providing easy solutions to laborious problems to developing life-saving devices that can extend life expectancy. Technology in the field of medicine has done wonders for human life. It has enabled mankind in designing and developing targeted therapies for various diseases and health problems. The invention of devices like ECG machines, ventilators, MRI machines, X-Ray machines, etc. are a few examples of the marvels of technology in the world of diagnostics. Medical devices of various kinds are used in every single field of medicine. You can check the stock information at tradeweb stock.
Medical equipment companies can provide their investors with great long term returns if the investor can pick prime stocks in this sector. Such companies have unique features that make them an attractive investment option, regardless of whether you are a growth or value investor. If a company has a patent on its product, it can win a substantial market share and receive a premium from others who use their patented design. A country with an aging population is ideal for such companies to grow. Medical equipment companies are not affected by the economic cycle as the healthcare sector is independent of the economy. They can supply their products all year round to hospitals and individual consumers.
Align Technology is engaged in the business of medical devices targeted towards dentistry. It is a medical device company that designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners, services for orthodontists, restorative and aesthetic dentistry all over the world. The company carries out its operations in two segments- ‘clear aligners’ and ‘scanners and services’. The clear aligner segment consists of products like the Invisalign comprehensive treatment for the orthodontic needs of teenage patients, Invisalign assist treatment which helps dental practitioners throughout the treatment process and helps track progress.
Their product line includes Invisalign Express 5, Express 10, Express Package, Lite Package, Invisalign go, and Smile Direct Club. They also have retention products and engage in the sale of ancillary products like cleaning material and adjusting tools. The scanners and Services segment offers iTero Scanner, a hardware platform with software solutions for restorative or orthodontic procedures for dentists, orthodontists, periodontists, prosthodontists, and oral surgeons. The software helps them with digital record storage, orthodontic diagnosis, and for the fabrication of printed models and retainers. Align Technology was founded in 1997 and is headquartered in San Jose, California.
Align Technology is listed on the Nasdaq index with the symbol ‘ALGN’. The NASDAQ: ALGN stock is currently traded for $306.96. NASDAQ: ALGN at https://www.webull.com/quote/nasdaq-algn has a market cap of $24.18 billion. The stock has an analyst rating of ‘hold’ and a price target of $280.31, anticipating an 8.7% downside.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.