February 4, 2023

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Is Align Technology (ALGN) a Good Investment Pick?

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Polen Funds, an financial investment management organization, posted its “Polen World wide Expansion Fund” initially quarter 2022 trader letter – a copy of which can be downloaded in this article. Throughout the to start with quarter of 2022, the Polen World-wide Advancement Composite Portfolio (the “Portfolio) was down -13.30% and -13.54%, gross and web of service fees, versus a drop of -5.35% for the MSCI ACWI (the “Index”).  Try out to expend some time looking at the fund’s prime 5 holdings to be knowledgeable about their very best picks for 2022. 

In its Q1 2022 investor letter, Polen World wide Development Fund mentioned Align Technological innovation, Inc. (NASDAQ:ALGN) and discussed its insights for the company. Started in 1997, Align Engineering, Inc. (NASDAQ:ALGN) is a San Jose, California-dependent orthodontics organization with a $21.5 billion market place capitalization. Align Technological innovation, Inc. (NASDAQ:ALGN) shipped a -58.38% return because the beginning of the calendar year, whilst its 12-thirty day period returns are down by -53.29%. The stock shut at $273.51 for every share on June 07, 2022.

Right here is what Polen Global Advancement Fund has to say about Align Technology, Inc. (NASDAQ:ALGN) in its Q1 2022 investor letter:

Align Technology carries on to de-chance as it grows and is exhibiting rising returns to scale. The business prints in excess of 800,000 special apparent aligners for every working day, and competition are acknowledging how hard it is to contend with this globally scaled, well-led corporation that enjoys the leading brand name and product in the marketplace. We applaud management’s stewardship of the business therefore far and feel there is a pretty extended period of compounding forward of it. Inspite of robust fundamentals, the business was swept up in the market-off that happened throughout the quarter, and we took benefit of the favorable valuation by elevating it to an regular place dimensions inside of the portfolio.

With regard to Align, share value performance appeared to be associated to a deceleration in circumstance shipments, which was largely because of to the Omicron variant and a challenging calendar year-over-year comparison to a 37% growth fee. That claimed, Align’s devices and providers section revenues grew 61% this previous quarter on top of 25% progress all through the very same interval in 2021 and fifty percent of the scanner product sales were being to new offices, which has traditionally been a good main indicator for amplified distinct aligner product sales. CEO Joe Hogan has been usually questioned whether or not the deceleration was owing to his business pulling forward demand from customers for the duration of the pandemic. Each individual time he has replied that the deceleration was because of to the Omicron variant creating exercise closures and personnel shortages.”

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Our calculations exhibit that Align Know-how, Inc. (NASDAQ:ALGN) fell brief and didn’t make it on our checklist of the 30 Most Well-known Shares Amongst Hedge Money. Align Technology, Inc. (NASDAQ:ALGN) was in 45 hedge fund portfolios at the end of the to start with quarter of 2022, in comparison to 51 money in the earlier quarter. Align Technology, Inc. (NASDAQ:ALGN) sent a -38.13% return in the past 3 months.

In March 2022, we also shared one more hedge fund’s sights on Align Technological innovation, Inc. (NASDAQ:ALGN) in a different article. You can discover other investor letters from hedge funds and popular traders on our hedge fund investor letters 2022 Q1 web site.

Disclosure: None. This report is at first posted at Insider Monkey.

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