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Is Align Technology (ALGN) Outperforming Other Medical Stocks This Year?
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Investors focused on the Medical space have likely heard of Align Technology (ALGN - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of ALGN and the rest of the Medical group's stocks.
Align Technology is a member of our Medical group, which includes 1024 different companies and currently sits at #16 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).
Within the past quarter, the Zacks Consensus Estimate for ALGN's full-year earnings has moved 12.18% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ALGN has moved about 1.34% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 1.02% on average. 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 #86 in the Zacks Industry Rank. Stocks in this group have gained about 6.88% so far this year, so ALGN is slightly underperforming its industry 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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Is Align Technology (ALGN) Outperforming Other Medical Stocks This Year?
Investors focused on the Medical space have likely heard of Align Technology (ALGN - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of ALGN and the rest of the Medical group's stocks.
Align Technology is a member of our Medical group, which includes 1024 different companies and currently sits at #16 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).
Within the past quarter, the Zacks Consensus Estimate for ALGN's full-year earnings has moved 12.18% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ALGN has moved about 1.34% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 1.02% on average. 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 #86 in the Zacks Industry Rank. Stocks in this group have gained about 6.88% so far this year, so ALGN is slightly underperforming its industry 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.