This performance isn't as bad as it might seem at initial glance, as the S&P 500, including dividends, dropped 6.4% last month.
We can attribute Align stock's subpar performance last month largely to poor overall market conditions.
As is typical during market sell-offs, high-flying, highly valued stocks were generally the hardest hit -- and Align is such a stock. Investors lightened up on these type of stocks and loaded up on solid and stable dividend payers.
Align stock's downturn last month follows its 14.4% rise in April, thanks to the company's release of first-quarter results that pleased the market. In the quarter, revenue rose 25.6% year over year to $549 million, while adjusted earnings per share declined 23.9% to $0.89, driven by impairments and other charges related to the closures of the company's U.S. Invisalign stores. Adjusted EPS beat the $0.83 Wall Street was expecting.
In the bigger picture, Align stock's May drop was relatively minor, as it's gained 46.9% in 2019 through June 7.
There seems to be no reason to change whatever investing course you've chosen for Align stock based on its performance last month.
For full-year 2019, Wall Street is expecting Align's earnings growth to slow to 11.2% year over year, but then accelerate to 30.7% next year.