In this article, we will be taking a look at the 5 biggest dental companies in the world. To read our detailed analysis of these companies and the dental care industry, you can go directly to see the 12 Biggest Dental Companies in the World.
5. Align Technology, Inc. (NASDAQ:ALGN)
Number of Hedge Fund Holders: 38
Market Capitalization as of December 6: $14.68 billion
Align Technology, Inc. (NASDAQ:ALGN) is a medical device company based in Tempe, Arizona. The company designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists.
A Buy rating was reiterated on Align Technology, Inc. (NASDAQ:ALGN) shares on October 27 by analyst Jonathan Block at Stifel.
Align Technology, Inc. (NASDAQ:ALGN) accounts for about 80-85% of the global clear aligners market. Growing demand for aesthetics and clear braces in orthodontic treatment fueled the growth in the company’s global revenues in 2020. Total revenues then grew to $2.47 billion from $2.41 billion in 2019, representing a 3% increase.
Bares Capital Management was the largest stakeholder in Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, holding 913,324 shares worth $189.2 million. In total, 38 funds were long the stock, with a total stake value of $756 million.
Polen Capital, an investment management firm, mentioned Align Technology, Inc. (NASDAQ:ALGN) in its second-quarter 2022 investor letter. Here’s what the firm said:
“Align Technology shares declined significantly during the second quarter when management reported a meaningful deceleration in growth. Management cited a host of challenges, including COVID19 impacts, especially in China with restrictions and lockdowns under their zero-COVID policy, a weaker economic environment, inflationary pressures, supply chain disruptions, and the war in
Ukraine, to name a few. Tough comparisons were also a reality— Invisalign case starts in 1Q22 were roughly flat, having lapped the 66% growth from the prior year. It’s not completely surprising that growth is slowing on such tough comparisons, but the company’s shares declined on the news.By looking at Align’s three-year compound average growth rate (CAGR) to smooth out the ups and downs through COVID, key metrics like Invisalign case shipment, clear aligner revenue, and earnings per share have all grown ~20% during the trailing three years. We think this is quite respectable given the challenges during this period, but the lack of near-term momentum or visibility has not been well received in the current environment. According to our research, Align is the clear market leader, has global scale, a superior product, and still very modest market penetration. While growth may be challenged near term, we remain confident in the long-term growth opportunity.”
Hedge Fund Resource Center