Align Technology stock sinks to pace the S&P 500's decliners after Stifel analyst warns of 'soft' quarterly results

Shares of Align Technology Inc. ALGN, -5.87% slumped 6.1% toward a four-month debased successful day trading Wednesday, capable to gait the S&P 500's SPX, +0.18% decliners, aft Stifel Nicolaus expert Jonathan Block warned investors that his probe suggests volumes deteriorated successful caller months. Block's informing comes 2 weeks earlier the aesthetic dentistry products institution is slated to study third-quarter results, aft the Oct. 27 closing bell. Block said his past "quarterly diligence" was bullish, starring him to instrumentality assertive stances heading into the erstwhile 4 quarterly reports, each which bushed some nett and gross expectations. "However, our 3Q21 checks came backmost soft, and arsenic a result, we presumption risk/reward for the upcoming people otherwise versus the past fistful of quarters," Block wrote successful a enactment to clients. Meanwhile, helium reiterated the bargain standing he's had connected the banal for astatine slightest the past 3 years and kept his banal terms people astatine $750. The existent FactSet statement for third-quarter net per stock of $2.59 is the aforesaid arsenic it was astatine the commencement of the 3rd quarter, portion the gross statement of $976.9 cardinal has accrued from $956.1 million. The banal has shed 8.4% implicit the past 3 months, portion stock of rival SmileDirectClub Inc. SDC, -3.80% person tumbled 20.0% and the S&P 500 has eased 0.1%.