Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Align Technology (ALGN - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Align Technology is a member of our Medical group, which includes 763 different companies and currently sits at #10 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ALGN is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ALGN's full-year earnings has moved 4.50% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ALGN has moved about 46.80% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 1.77% on average. This means that Align Technology is outperforming the sector as a whole this year.
Looking more specifically, ALGN belongs to the Medical - Dental Supplies industry, a group that includes 23 individual stocks and currently sits at #110 in the Zacks Industry Rank. On average, stocks in this group have gained 0.18% this year, meaning that ALGN is performing better in terms of year-to-date returns.
ALGN will likely be looking to continue its solid performance, so investors interested Medical stocks should continue to pay close attention to the company.