Align Technology (NASDAQ:ALGN) shares fell 1.7% in pre-market trading after Evercore ISI downgraded the medical device company to In Line from Outperform.
The downgrade comes ahead of Align Technology’s third-quarter 2026 results, which are scheduled for October 28.
Wall Street analyst ratings cited in the source currently comprise 10 Buy ratings, five Hold ratings and one Sell rating.
Align Technology shares have declined approximately 9.4% over the past month.
Q2 Results Show Diverging Performance Across Businesses
Align Technology reported record Clear Aligner revenue of $870.9 million in the second quarter of 2026, with case shipments reaching 691,800.
Systems and Services revenue, however, declined 10.8%. The company attributed the decrease to a shift towards lower-priced scanners and more flexible leasing models.
Management guided for third-quarter revenue of between $1.0 billion and $1.02 billion. The company also expects full-year 2026 revenue growth of between 3% and 4%.
Align Technology has expanded its share repurchase programme to between $400 million and $500 million and has entered into a cooperation agreement with Elliott Management.
Shares Decline Alongside Broader US Market
The pre-market decline in Align Technology shares came as major US equity indices also traded modestly lower. The S&P 500 fell 0.2%, while the Nasdaq declined 0.3%.
Align Technology shares remain below their 52-week high of $200.44 and above their 52-week low of $124.91.
The company’s October 28 earnings report is expected to provide further information on third-quarter Clear Aligner volumes, Systems and Services revenue and its full-year outlook.
Align Technology stock price
