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Polen Capital, an funding administration firm, launched its “Polen Global Growth Strategy” first-quarter 2023 investor letter. A replica of the identical will be downloaded here. The fund returned 11.37% internet within the first quarter in comparison with a return of seven.31% for the MSCI ACW Index. Global fairness markets had been risky within the first quarter. The market rewarded high quality fundamentals in January, and concern of inflation and central financial institution coverage reemerged in February. However, regardless of the banking disaster, high quality fundamentals had been rewarded once more in March. In addition, please examine the fund’s high 5 holdings to know its finest picks in 2023.
Polen Global Growth Strategy highlighted shares like Align Technology, Inc. (NASDAQ:ALGN) within the first quarter 2023 investor letter. Headquartered in Tempe, Arizona, Align Technology, Inc. (NASDAQ:ALGN) is a medical gadget firm. On April 24, 2023, Align Technology, Inc. (NASDAQ:ALGN) inventory closed at $363.06 per share. One-month return of Align Technology, Inc. (NASDAQ:ALGN) was 18.92%, and its shares gained 0.49% of their worth over the past 52 weeks. Align Technology, Inc. (NASDAQ:ALGN) has a market capitalization of $28.482 billion.
Polen Global Growth Strategy made the next remark about Align Technology, Inc. (NASDAQ:ALGN) in its Q1 2023 investor letter:
“Align Technology, Inc. (NASDAQ:ALGN)y had a difficult 2022 as it lapped extremely high prior year comparables. The company delivered a steady quarter recently, and the business continues to deliver as expected. On a three-year basis, Align has grown case shipments over 15% and net revenues at 16%. The pandemic has given the company a chance to highlight its benefits relative to wires and brackets, and doctors are responding. Recently, Align disclosed that the Invisalign treatment allows patients to go through the orthodontia process five months faster than braces, with roughly 35% fewer visits to a doctor. While Align continues to stay ahead of clear aligner competition through sales, marketing, and R&D, research indicates that the real fight is against braces, and we believe it is better positioned than ever to win market share.”
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Align Technology, Inc. (NASDAQ:ALGN) will not be on our checklist of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Align Technology, Inc. (NASDAQ:ALGN) on the finish of the fourth quarter which was 38 within the earlier quarter.
We mentioned Align Technology, Inc. (NASDAQ:ALGN) in another article and shared the checklist of finest medical shares to spend money on. In addition, please take a look at our hedge fund investor letters Q1 2023 web page for extra investor letters from hedge funds and different main buyers.
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Disclosure: None. This article is initially printed at Insider Monkey.
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