Share price of San Jose, CA-based Align Technology, Inc. ALGN reached a new 52-week high of $157.86 on Jul 17, eventually closing a bit lower at $156.21. The company has gained 4.3% over the past month, outperforming the S&P 500’s gain of 0.2%. The stock has a market cap of $12.55 billion.

Over the last one month, Align has outshined the Zacks categorized Medical - Dental Supplies industry with respect to share price movement. The stock has climbed 4.3%, way higher than the broader industry’s gain of 2.9%.

Further, Align’s estimate revision trend for the current quarter is favorable. In the past 60 days, two estimates have moved up with no downward revision. However, the magnitude of estimate revision over the same time period has remained pegged at 73 cents per share.

The company also has a trailing four-quarter average positive earnings surprise of 19.89%.

Additionally, Align’s long-term growth fundamentals are compelling. The Zacks Rank #2 (Buy) company recorded a long-term historical growth rate of 16.6% for revenues as compared to the broader industry’s 9.6% gain. The long-term historical growth rate for earnings is at 18%, compared to the industry’s average of 10.9%.

The company has an impressive Growth Style Score of ‘B’. Our Growth Style Score highlights all the vital metrics of the company’s financials to obtain a clearer picture of the quality and sustainability of its growth. Our research shows that stocks with Style Scores of ‘A’ or ‘B’ when combined with a Zacks Rank #1 (Strong Buy), 2 or 3 (Hold) offer the best investment opportunities.

Growth Drivers

We believe the 52-week high came on the back of its recent series of developments. Align announced its addition to the prestigious S&P 500 Health Care Supplies Sub-Industry Index in Jun 2017.

In the same month, the company announced another encouraging step toward strengthening its position in the Invisalign brand – the company’s most popular offering. In keeping up with the company’s strategies of expansion and investment in the rapidly growing Asia-Pacific region, Align announced plans to build its first Invisalign manufacturing facility in China.

We are upbeat about the receipt of two U.S. patents for Align’s SmartTrack aligner material that is used exclusively for Invisalign aliner treatment in May 2017. Moving on, in a bid to gain traction in the same platform, in Mar 2017, Align collaborated with Digital Smile Design. Post-collaboration, Align’s Invisalign clear aligner treatment will be used by dentists during tooth align procedures along with Smile Design protocols.