Jefferies Dentist Survey Highlights a Trend That Should Benefit Align Technology (ALGN)

Jefferies analyst Brandon Couillard reiterated a Buy rating on Align Technology (NASDAQ: ALGN) after surveying 75 dentists & oral surgeons and finding an accelerated shift to digital workflows that should benefit the company.

The analyst stated "The pandemic accelerated the shift towards digital dentistry. ~45% of surveyed dentists use some form of in-office CAD/CAM today. Of those who do not, ~40% expect to adopt in the near-future. In our view, adoption of digital solutions remains one of the biggest opportunities as improved workflows = more efficient (and profitable) practices. ALGN, XRAY & 3Shape remain market leaders in digital equipment, and we'd expect strength in scanner demand to provide potential halo effect for aligners (Invisalign, SureSmile) as docs ramp utilization."

For an analyst ratings summary and ratings history on Align Technology click here. For more ratings news on Align Technology click here.

Shares of Align Technology closed at $599.49 yesterday.

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