Expanding the iTero suite, Align Technology, Inc. ALGN recently announced the launch of its first intraoral scanner with near-infrared imaging (NIRI) technology — iTero Element 5D Imaging System. The company is planning to display the complete range of iTero products, including the iTero Element 5D Imaging System, at the 38th International Dental Show in Cologne Germany.
Per management, the iTero Element 5D Imaging System featuring integrated 3D, intra-oral color and NIRI technology helps in discovering and monitoring interproximal caries lesions above the gingiva without applying harmful radiation and provides doctors with solid visualization capacities.
The system has been made commercially available in Canada, European Union countries acknowledging CE mark (excluding Greece), Switzerland, Norway, Australia, New Zealand, Hong Kong and Thailand. However, the iTero Element 5D Imaging System is currently not available in the United States or Latin America.
Per a Research And Markets report, the global 3D dental scanner market is expected to see a CAGR of 10.2% in the 2017-2021 period. The latest developments will help Align Technology cash in on the opportunities.
iTero Portfolio in Focus
Align Technology has been focusing on expanding work flow options of its leading iTero scanners. The company has begun manufacturing the iTero Element intraoral scanner in China post-receipt of Certificate of Medical Device Registration and Certificate of Production from the China Food and Drug Administration. Align Technology is sees rising Scanner and Services business sales globally, including Italy, Japan and China.
The company is also gaining from the adoption of the iTero platform by dental service organizations or DSO partners.
We are also upbeat about the company’s expansion of the iTero Element portfolio with the launch of iTero Element 2 and iTero Element Flex scanners in the United States and majority of European countries, including France, Germany, Italy, Spain, and the United Kingdom.
Align Technology received encouraging response for its new Invisalign Go product with an improved user-interface in iTero digital chairside experience and increased flexibility for treating a variety of mild to moderate cases.
Share Price Movement
Over the past three months, Align Technology’s share price has outperformed its industry. The stock has gained 24.7% compared with the industry’s 5.8% rise.
Zacks Rank & Key Picks
Align Technology currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space include Penumbra, Inc. PEN, Amedisys, Inc. AMED and Abbott Laboratories ABT.
Penumbra’s long-term earnings growth rate is expected at 20%. The stock carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Amedisys’ long-term earnings growth rate is projected at 18.8%. The stock carries a Zacks Rank #1.
Abbott’s long-term earnings growth rate is expected at 11.7%. The stock carries a Zacks Rank of 2.
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