ALGN

Align Technology is trading lower today, moving in tandem with a broader downward trend across the medical devices sector that saw peers like McKesson and Haemonetics also experience similar declines. While the company recently announced a leadership transition with Kevin Conroy set to become chairman on July 1, as well as plans for a new manufacturing facility in India and various research funding initiatives, none of these developments appear to have served as a positive catalyst for the stock price. With no significant market-moving news released over the last 48 hours, the stock is currently hovering just above its 50-day moving average amid the wider industry pressure.