Is Align Technology (ALGN) Outperforming Other Medical Stocks 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) 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 one of 1120 individual stocks in the Medical sector. Collectively, these companies sit at #5 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 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).
The Zacks Consensus Estimate for ALGN's full-year earnings has moved 5.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ALGN has returned 63% so far this year. In comparison, Medical companies have returned an average of -4%. As we can see, Align Technology is performing better than its sector in the calendar year.
Amphastar Pharmaceuticals (AMPH) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 103.2%.
Over the past three months, Amphastar Pharmaceuticals' consensus EPS estimate for the current year has increased 30%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Align Technology is a member of the Medical - Dental Supplies industry, which includes 17 individual companies and currently sits at #19 in the Zacks Industry Rank. On average, stocks in this group have gained 15.3% this year, meaning that ALGN is performing better in terms of year-to-date returns.
In contrast, Amphastar Pharmaceuticals falls under the Medical - Generic Drugs industry. Currently, this industry has 16 stocks and is ranked #72. Since the beginning of the year, the industry has moved +14.5%.
Investors with an interest in Medical stocks should continue to track Align Technology and Amphastar Pharmaceuticals. These stocks will be looking to continue their solid performance.
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Align Technology, Inc. (ALGN) : Free Stock Analysis Report
Amphastar Pharmaceuticals, Inc. (AMPH) : Free Stock Analysis Report
