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Is Align Technology (ALGN) Outperforming Other Medical Stocks 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. 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 a member of the Medical sector. This group includes 1016 individual stocks and currently holds a Zacks Sector Rank of #16. 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 13.79% 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 14.44% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of 1.88% on a year-to-date basis. This means that Align Technology is performing better than its sector in terms of year-to-date returns.

Breaking things down more, ALGN is a member of the Medical - Dental Supplies industry, which includes 21 individual companies and currently sits at #100 in the Zacks Industry Rank. On average, stocks in this group have gained 8.64% 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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