Is Align Technology (ALGN) Outperforming Other Medical Stocks This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Align Technology (ALGN) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Align Technology is one of 1092 individual stocks in the Medical sector. Collectively, these companies sit at #4 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 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 6.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ALGN has moved about 26.1% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -7.1% on a year-to-date basis. This shows that Align Technology is outperforming its peers so far this year.
One other Medical stock that has outperformed the sector so far this year is Artivion (AORT). The stock is up 10.6% year-to-date.
In Artivion's case, the consensus EPS estimate for the current year increased 55.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Align Technology belongs to the Medical - Dental Supplies industry, a group that includes 16 individual companies and currently sits at #45 in the Zacks Industry Rank. This group has gained an average of 13.6% so far this year, so ALGN is performing better in this area.
In contrast, Artivion falls under the Medical - Instruments industry. Currently, this industry has 94 stocks and is ranked #103. Since the beginning of the year, the industry has moved -10.8%.
Investors with an interest in Medical stocks should continue to track Align Technology and Artivion. These stocks will be looking to continue their solid performance.
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Align Technology, Inc. (ALGN) : Free Stock Analysis Report
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