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Has Align Technology (ALGN) Outpaced 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 1050 companies in the Medical group. The Medical group currently sits at #16 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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 three months, the Zacks Consensus Estimate for ALGN's full-year earnings has moved 13.79% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ALGN has gained about 14.57% so far this year. Meanwhile, the Medical sector has returned an average of 1.47% on a year-to-date basis. This means that Align Technology is performing better than its sector in terms of year-to-date returns.
To break things down more, ALGN belongs to the Medical - Dental Supplies industry, a group that includes 21 individual companies and currently sits at #73 in the Zacks Industry Rank. Stocks in this group have gained about 10.97% 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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Has Align Technology (ALGN) Outpaced 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 1050 companies in the Medical group. The Medical group currently sits at #16 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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 three months, the Zacks Consensus Estimate for ALGN's full-year earnings has moved 13.79% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ALGN has gained about 14.57% so far this year. Meanwhile, the Medical sector has returned an average of 1.47% on a year-to-date basis. This means that Align Technology is performing better than its sector in terms of year-to-date returns.
To break things down more, ALGN belongs to the Medical - Dental Supplies industry, a group that includes 21 individual companies and currently sits at #73 in the Zacks Industry Rank. Stocks in this group have gained about 10.97% 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.