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Is Align Technology (ALGN) Outperforming Other Medical Stocks This Year?
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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? 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 a member of our Medical group, which includes 1044 different companies and currently sits at #16 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the 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 2.28% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ALGN has gained about 32.80% so far this year. Meanwhile, stocks in the Medical group have lost about 3.58% on average. 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, which includes 21 individual stocks and currently sits at #89 in the Zacks Industry Rank. On average, this group has gained an average of 16.78% so far this year, meaning that ALGN is performing better 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?
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? 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 a member of our Medical group, which includes 1044 different companies and currently sits at #16 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the 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 2.28% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ALGN has gained about 32.80% so far this year. Meanwhile, stocks in the Medical group have lost about 3.58% on average. 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, which includes 21 individual stocks and currently sits at #89 in the Zacks Industry Rank. On average, this group has gained an average of 16.78% so far this year, meaning that ALGN is performing better 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.