Is Align Technology (ALGN) a Good Investment Pick?

Clara D. Flaherty

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Polen Money, an investment management agency, revealed its “Polen World wide Growth Fund” first quarter 2022 trader letter – a duplicate of which can be downloaded here. Throughout the 1st quarter of 2022, the Polen World wide Expansion Composite Portfolio (the “Portfolio) was down -13.30% and -13.54%, gross and web of fees, compared to a drop of -5.35% for the MSCI ACWI (the “Index”).  Consider to expend some time wanting at the fund’s prime 5 holdings to be educated about their very best picks for 2022. 

In its Q1 2022 investor letter, Polen Worldwide Development Fund stated Align Technology, Inc. (NASDAQ:ALGN) and discussed its insights for the firm. Founded in 1997, Align Technologies, Inc. (NASDAQ:ALGN) is a San Jose, California-based mostly orthodontics organization with a $21.5 billion market capitalization. Align Technologies, Inc. (NASDAQ:ALGN) shipped a -58.38% return due to the fact the starting of the yr, while its 12-month returns are down by -53.29%. The stock closed at $273.51 per share on June 07, 2022.

Here is what Polen Global Progress Fund has to say about Align Engineering, Inc. (NASDAQ:ALGN) in its Q1 2022 trader letter:

Align Technology continues to de-hazard as it grows and is exhibiting expanding returns to scale. The enterprise prints over 800,000 special clear aligners for each day, and opponents are knowing how difficult it is to compete with this globally scaled, well-led firm that enjoys the main model and products in the industry. We applaud management’s stewardship of the small business therefore considerably and believe that there is a quite very long time period of compounding ahead of it. Regardless of sturdy fundamentals, the company was swept up in the sell-off that transpired in the course of the quarter, and we took advantage of the favorable valuation by increasing it to an regular posture measurement in just the portfolio.

With respect to Align, share price general performance seemed to be associated to a deceleration in scenario shipments, which was largely owing to the Omicron variant and a rough calendar year-around-calendar year comparison to a 37% development level. That claimed, Align’s methods and services phase revenues grew 61% this past quarter on prime of 25% growth in the course of the same interval in 2021 and half of the scanner income were being to new places of work, which has historically been a great primary indicator for greater crystal clear aligner profits. CEO Joe Hogan has been routinely requested no matter whether the deceleration was owing to his organization pulling ahead desire for the duration of the pandemic. Every single time he has replied that the deceleration was because of to the Omicron variant causing apply closures and staff members shortages.”

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Our calculations present that Align Technology, Inc. (NASDAQ:ALGN) fell shorter and did not make it on our listing of the 30 Most Well known Shares Amongst Hedge Money. Align Engineering, Inc. (NASDAQ:ALGN) was in 45 hedge fund portfolios at the stop of the initial quarter of 2022, in comparison to 51 resources in the past quarter. Align Know-how, Inc. (NASDAQ:ALGN) shipped a -38.13% return in the past 3 months.

In March 2022, we also shared yet another hedge fund’s sights on Align Technologies, Inc. (NASDAQ:ALGN) in an additional post. You can find other trader letters from hedge money and outstanding investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This write-up is initially released at Insider Monkey.



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