During the last decade, decade and a half, one sector which has seen an unprecedented rise is the tech sector. You name any of the products around you, and 99% chance would be that it’s the part of the tech sector or has been developed owing to the advancements in technology. These advancements had a robust impact on the growth of tech stocks as well, as they saw a boom that was once known to happen with other non-conventional sectors. Align Technology, Inc. (NASDAQ: ALGN) is one such stock.
Align manufactures 3D digital scanners and Invisalign clear aligners which are used in orthodontics. The current market capitalization of the company stands at a staggering $30.23 billion. The average trading volume of 866,213 shares is an epitome of the fact that the stock mostly remains out of a vicious circle of volatility.
ALGN Reliance upon Innovation
Align Technology has been known for innovation. Most recently, in March, the company announced that it would be adding the Cone Beam Computed Tomography integration feature in its ClinCheck digital treatment planning software. Cone Beam integration feature is a user-friendly tool that makes a single 3-D model via the combination of roots, bones, and crowns. The model would enable doctors to take a look at the roots of the patients as part of the digital treatment planning process.
Strong Product Portfolio
On the intellectual property front, Align Technology is much ahead of its competitors. Currently, the company has an outstanding 642 active patents in the US, and 724 active foreign patents, while 736 of its patent applications are pending across the globe. For comparison, the nearest competitor of the company, SmileDirectClub, has just 32 active US patents. The growth in the Orthodontist and GP base of the company has indirectly led to the increased adoption of Invisalign.
ALGN Insider Trading
Insider trading depicts how much interest the insiders have regarding the ownership of the company. Insider trading in a way makes the insiders work harder for the betterment of the company. In the case of Align Technology (ALG), the current insider ownership currently stands at a nominal 0.70%. During the last 12 months, no insider has bought the shares, while 6 insiders have sold their shares, the total amount of which stands at $37.59 million.
The facts and figures reveal that investors could opt for long-term investment in ALGN stock, the reason being the general stability associated with it.