Here’s What Makes Align Technology (ALGN) a Great Investment Pick

Artko Capital, an asset management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. For the first calendar quarter of 2022, an average partnership interest in Artko Capital LP was down 11.4% net of fees. At the same time, investments in the most comparable market indexes—Russell 2000, Russell Microcap, and the S&P 500—were down 7.5%, 7.6%, and 4.6% respectively. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Harding Loevner Global Equity Fund mentioned Align Technology, Inc. (NASDAQ:ALGN) and explained its insights for the company. Founded in 1997, Align Technology, Inc. (NASDAQ:ALGN) is a San Jose, California-based orthodontics company with an $18.4 billion market capitalization. Align Technology, Inc. (NASDAQ:ALGN) delivered a -64.32% return since the beginning of the year, while its 12-month returns are down by -61.03%. The stock closed at $234.47 per share on June 20, 2022.

Here is what Harding Loevner Global Equity Fund has to say about Align Technology, Inc. (NASDAQ:ALGN) in its Q1 2022 investor letter:

“Align Technology (NASDAQ:ALGN), the leading global provider of clear aligners (“invisible braces”) and dental scanning equipment, warned that rising Omicron cases would suppress first-quarter growth, leading the market to question its guidance for annual topline growth of 20-30%, even though we think its growth will be plenty durable. Align remains among the fastest growing and most innovative companies in consumer health.”

Photo by Karlo Tottoc on Unsplash

Our calculations show that Align Technology, Inc. (NASDAQ:ALGN) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Align Technology, Inc. (NASDAQ:ALGN) was in 45 hedge fund portfolios at the end of the first quarter of 2022, compared to 51 funds in the previous quarter. Align Technology, Inc. (NASDAQ:ALGN) delivered a -47.06% return in the past 3 months.

In June 2022, we also shared another hedge fund’s views on Align Technology, Inc. (NASDAQ:ALGN) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.