3 Dental Stocks To Buy Now To Keep You Smiling

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The COVID-19 pandemic had a huge, negative impact on the dental care and services market last year. But the industry is now recovering at a fast pace as solid progress on the vaccination front has been driving a gradual return to in-office dental checkups, which were deferred for an extended period. In addition, increasing consumer spending and extensive government spending to strengthen healthcare infrastructure are expected to create a conducive environment for further industry growth.

Growing demand for cosmetic dental surgeries, technological advancements, and an aging population are projected to boost the growth of the dental care and services market. The global dental equipment market is expected to reach $5.4 billion by 2028, registering a 12.1% CAGR.

Considering the rapid advancement in dental procedures and substantial rise in dental hygiene appointments, we believe dental companies Align Technologies (ALGN), Dentsply Sirona Inc. (XRAY), and Henry Schein Inc. (HSIC) are well-positioned to witness robust demand for their products and services. Thus, these stocks could be ideal bets now.

Align Technologies Inc. (ALGN)

ALGN, which is based in San Jose, Calif., develops, produces, and sells a system of clear aligner therapy, intra-oral scanners, and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics, and dental records storage. Clear Aligner and Scanner and Services are the two business segments through which the company operates.

This month, ALGN announced the opening of its new premises in Petach Tikva, Israel, atop one of the three high-rise buildings that make up the “Global Towers.” Through this, the company aims to expand its industry-leading digital capabilities via continuous scanner innovation and solutions and assist more dental professionals across the world in transforming their practices using digital tools and technology.

During the first quarter, ended March 31, 2021, ALGN’s net revenue increased 62.4% year-over-year to $894.78 million. The company’s non-GAAP operating income increased 171.6% year-over-year to $255.79 million over this period. Its non-GAAP net income increased 242.67% year-over-year to $198.4 million, while its non-GAAP EPS grew 241.1% from the prior-year quarter to $2.49.

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