Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. 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 our Medical group, which includes 760 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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 #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ALGN's full-year earnings has moved 4.85% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ALGN has returned 63.60% so far this year. Meanwhile, stocks in the Medical group have gained about 4.92% on average. This shows that Align Technology is outperforming its peers so far this year.
To break things down more, ALGN belongs to the Medical - Dental Supplies industry, a group that includes 23 individual companies and currently sits at #184 in the Zacks Industry Rank. This group has gained an average of 6.37% so far this year, so ALGN is performing better in this area.
Investors with an interest in Medical stocks should continue to track ALGN. The stock will be looking to continue its solid performance.