Elliott builds stake in Invisalign maker Align Technology

Elliott Investment Management has established a significant stake in Align Technology, Inc., the company behind Invisalign teeth-straightening products, according to sources familiar with the matter. The hedge fund, now one of the firm's largest investors, reportedly plans to engage with leadership to advocate for strategies to improve the stock's performance. The investment comes at a time when the dental equipment sector is facing headwinds, with shares of the manufacturer having dropped more than 75% from their 2021 highs due to sluggish consumer demand. While analysts suggest that the sector could see stabilization by 2026, they remain wary of the prospects for a complete market turnaround. The development was reported by journalists in Mexico, though neither the hedge fund nor the medical device company have issued official statements regarding the stake.