Should You Consider Investing in Align Technology (ALGN)?

Harding Loevner, an investment management firm, published its “Global Equity Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. A net return of 4.35% was recorded by the fund for the fourth quarter of 2021, trailing its Benchmarks, the MSCI All Country World Index, and the MSCI World Index which returned 6.77% and 7.86% respectively for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Harding Loevner Global Equity Fund, in its Q4 2021 investor letter, mentioned Align Technology, Inc. (NASDAQ: ALGN) and discussed its stance on the firm. Align Technology, Inc. is a San Jose, California-based orthodontics company with a $39.4 billion market capitalization. ALGN delivered a -23.77% return since the beginning of the year, while its 12-month returns are down by -5.02%. The stock closed at $500.97 per share on March 01, 2022.

Here is what Harding Loevner Global Equity Fund has to say about Align Technology, Inc. in its Q4 2021 investor letter:

“Align Technology, which we wrote about a year ago, employs computer-aided design and manufacturing to make custom invisible orthodontics—an application of established technology to a new market. In an imaginative exploitation of the workfrom-home phenomenon driven by COVID-19, Align dramatically expanded its digital marketing efforts last year, establishing a direct relationship with potential end-users who were seeing their smiles up close every day on video calls. The results of this very effective campaign to win new patients has endeared the company to its key customers, the family orthodontist or dentist.”

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Our calculations show that Align Technology, Inc. (NASDAQ: ALGN) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. ALGN was in 51 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 49 funds in the previous quarter. Align Technology, Inc. (NASDAQ: ALGN) delivered a -16.82% return in the past 3 months.

In February 2022, we also shared another hedge fund’s views on ALGN in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

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