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Is Align Technology (ALGN) Stock Outpacing Its Medical Peers This Year?

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For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. 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 one of 927 individual stocks in the Medical sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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 #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for ALGN's full-year earnings has moved 186.48% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that ALGN has returned about 88.76% since the start of the calendar year. Meanwhile, stocks in the Medical group have gained about 7.50% on average. This means that Align Technology is outperforming the sector as a whole this year.

To break things down more, ALGN belongs to the Medical - Dental Supplies industry, a group that includes 22 individual companies and currently sits at #75 in the Zacks Industry Rank. This group has gained an average of 17.01% so far this year, so ALGN is performing better in this area.

Going forward, investors interested in Medical stocks should continue to pay close attention to ALGN as it looks to continue its solid performance.


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