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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. Has Align Technology (ALGN - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Align Technology is one of 763 individual stocks in the Medical sector. Collectively, these companies sit at #12 in 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ALGN is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ALGN's full-year earnings has moved 4.52% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ALGN has returned about 64.85% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of 2.24% on a year-to-date basis. This means that Align Technology is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ALGN belongs to the Medical - Dental Supplies industry, a group that includes 23 individual stocks and currently sits at #81 in the Zacks Industry Rank. Stocks in this group have gained about 6.95% so far this year, so ALGN is performing better this group 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. Has Align Technology (ALGN - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Align Technology is one of 763 individual stocks in the Medical sector. Collectively, these companies sit at #12 in 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ALGN is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ALGN's full-year earnings has moved 4.52% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ALGN has returned about 64.85% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of 2.24% on a year-to-date basis. This means that Align Technology is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ALGN belongs to the Medical - Dental Supplies industry, a group that includes 23 individual stocks and currently sits at #81 in the Zacks Industry Rank. Stocks in this group have gained about 6.95% so far this year, so ALGN is performing better this group 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.