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Investing.com -- Shares of Straumann fell as much as 6.6% on Thursday, marking the largest decline since April 7, after its U.S. competitor Align Technology (NASDAQ:ALGN) reported disappointing second-quarter results and provided a weaker outlook.
Align Technology, known for manufacturing clear dental braces, missed sales expectations for the second quarter and lowered its full-year guidance, which Barclays (LON:BARC) analyst Hassan Al-Wakeel described as a "negative read-across" for the Swiss dental equipment manufacturer.
In a research note, Al-Wakeel, who maintains an overweight rating on Straumann, pointed out that ongoing softness in the U.S. market remains a key concern for the sector.
Despite these concerns, Barclays emphasized that the product mix between the two companies "differs materially" and highlighted Straumann’s "consistent outperformance relative to dental peers."
Straumann is scheduled to report its second-quarter results on August 13.
The Swiss company’s shares have declined 12% this year, compared to a 2.4% drop for Align Technology.
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