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Is Align Technology (ALGN) Stock Outpacing Its Medical Peers 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. 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 1054 different companies and currently sits at #4 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. Align Technology is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ALGN's full-year earnings has moved 0.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ALGN has returned about 16.7% since the start of the calendar year. Meanwhile, stocks in the Medical group have gained about 7.2% on average. This shows that Align Technology is outperforming its peers so far this year.
Another stock in the Medical sector, atai Life Sciences N.V. (ATAI - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 31.9%.
For atai Life Sciences N.V. the consensus EPS estimate for the current year has increased 0.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Align Technology belongs to the Medical - Dental Supplies industry, which includes 15 individual stocks and currently sits at #84 in the Zacks Industry Rank. On average, stocks in this group have gained 6.5% this year, meaning that ALGN is performing better in terms of year-to-date returns.
On the other hand, atai Life Sciences N.V. belongs to the Medical - Outpatient and Home Healthcare industry. This 19-stock industry is currently ranked #86. The industry has moved +9.7% year to date.
Align Technology and atai Life Sciences N.V. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Is Align Technology (ALGN) Stock Outpacing Its Medical Peers This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. 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 1054 different companies and currently sits at #4 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. Align Technology is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ALGN's full-year earnings has moved 0.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ALGN has returned about 16.7% since the start of the calendar year. Meanwhile, stocks in the Medical group have gained about 7.2% on average. This shows that Align Technology is outperforming its peers so far this year.
Another stock in the Medical sector, atai Life Sciences N.V. (ATAI - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 31.9%.
For atai Life Sciences N.V. the consensus EPS estimate for the current year has increased 0.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Align Technology belongs to the Medical - Dental Supplies industry, which includes 15 individual stocks and currently sits at #84 in the Zacks Industry Rank. On average, stocks in this group have gained 6.5% this year, meaning that ALGN is performing better in terms of year-to-date returns.
On the other hand, atai Life Sciences N.V. belongs to the Medical - Outpatient and Home Healthcare industry. This 19-stock industry is currently ranked #86. The industry has moved +9.7% year to date.
Align Technology and atai Life Sciences N.V. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.