Thirteen years after introducing the Invisalign system, Align Technology Inc. (NASDAQ: ALGN) has been listed as one of the Top 15 picks in the Fortune 2013 Investor's Guide and was picked as one of the Top 10 stock picks for 2013, as revealed on CNBC last Wednesday. The maker of iTero, iOC, and OrthoCAD, Align Technology, with a surprising market cap of $2 billion, is in good company, with two other health care picks on the list as well.
Gilead Sciences Inc. (NASDAQ: GILD), a Californian biopharmaceutical company, was listed as one of the 10 best S&P stocks of 2012 and has a $56 billion market cap. Fresenius Medical Care A.G. (NYSE: FMS) is a German kidney dialysis company that operates in approximately 40 countries and has a market cap of $21 billion.
Fortune has a consensus upside expectation for Align Technology Inc. of about 20%, with the consensus analyst target at $34.10 and the current price at $26.25.
“We’re really pleased to be included in Fortune’s recent Top 15 and Top 10 picks for 2013," said a representative from Align. "... We have a very underpenetrated market with a lot of room for continued growth, particularly in the very important teen market.”
Q3 2012 Align Technology Inc. earnings conference call
Patterson profit declines, cuts FY outlook; stock down - update
Fortune has some interesting picks for 2013, especially compared to last year’s picks. While heavy in technology, industrials, and oil and gas selections for 2012 (Apple, Intel, Caterpillar, Lockheed Martin, Enbridge Energy Partners, and Halliburton), the picks are now comprised of more health care, financial, and consumer goods picks, with the three health care options above as well as the financial selections of Moody’s Corp. and VeriFone Systems Inc. and the consumer goods selections of Ford and Unilever.
As always, there are differing opinions as to how to approach the market for 2013.With the fiscal cliff talks taking place, we know the economy is in an unstable place. But that can be good, says David Herro, manager of Oakmark International Fund:
“In order to get quality at low prices, economic uncertainty and macroeconomic instability is actually very good for us.”
Stephen Auth of Federated Investors also saw a silver lining. “We are nervous that the U.S. economy is slowing,” due to the fiscal cliff talks and the destruction caused by Sandy, among other things, he explains. However, 2013 doesn’t look too bad. “We think the second half of 2013 could be really good,” Auth added.
See the complete list ofFortune's 15 top stock picks from star investors.
