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Is Align Technology (ALGN) Outperforming Other Medical Stocks This Year?
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The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Align Technology (ALGN - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Align Technology is one of 1022 individual stocks in the Medical sector. Collectively, these companies sit at #16 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track 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 10.06% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ALGN has returned about 13.46% since the start of the calendar year. At the same time, Medical stocks have gained an average of 0.03%. This shows that Align Technology is outperforming its peers so far this year.
Breaking things down more, ALGN is a member of the Medical - Dental Supplies industry, which includes 21 individual companies and currently sits at #105 in the Zacks Industry Rank. On average, this group has gained an average of 9.78% so far this year, meaning that ALGN is performing better in terms of year-to-date returns.
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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Is Align Technology (ALGN) Outperforming Other Medical Stocks This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Align Technology (ALGN - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Align Technology is one of 1022 individual stocks in the Medical sector. Collectively, these companies sit at #16 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track 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 10.06% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ALGN has returned about 13.46% since the start of the calendar year. At the same time, Medical stocks have gained an average of 0.03%. This shows that Align Technology is outperforming its peers so far this year.
Breaking things down more, ALGN is a member of the Medical - Dental Supplies industry, which includes 21 individual companies and currently sits at #105 in the Zacks Industry Rank. On average, this group has gained an average of 9.78% so far this year, meaning that ALGN is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to ALGN as it looks to continue its solid performance.