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Is Align Technology (ALGN) Outperforming Other Medical Stocks This Year?
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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Align Technology (ALGN - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of ALGN and the rest of the Medical group's stocks.
Align Technology is a member of our Medical group, which includes 977 different companies and currently sits at #16 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. ALGN is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ALGN's full-year earnings has moved 11.24% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ALGN has moved about 8.45% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 1.90% on average. This shows that Align Technology is outperforming its peers so far this year.
Looking more specifically, ALGN belongs to the Medical - Dental Supplies industry, a group that includes 22 individual stocks and currently sits at #60 in the Zacks Industry Rank. Stocks in this group have gained about 4.10% so far this year, so ALGN is performing better this group in terms of year-to-date returns.
ALGN will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.
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Is Align Technology (ALGN) Outperforming Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Align Technology (ALGN - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of ALGN and the rest of the Medical group's stocks.
Align Technology is a member of our Medical group, which includes 977 different companies and currently sits at #16 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. ALGN is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ALGN's full-year earnings has moved 11.24% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ALGN has moved about 8.45% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 1.90% on average. This shows that Align Technology is outperforming its peers so far this year.
Looking more specifically, ALGN belongs to the Medical - Dental Supplies industry, a group that includes 22 individual stocks and currently sits at #60 in the Zacks Industry Rank. Stocks in this group have gained about 4.10% so far this year, so ALGN is performing better this group in terms of year-to-date returns.
ALGN will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.