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Align Technology (ALGN) closed the most recent trading day at $603.72, moving -0.43% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.53%.
Prior to today's trading, shares of the maker of the Invisalign tooth-straightening system had gained 17.88% over the past month. This has outpaced the Medical sector's loss of 1.91% and the S&P 500's gain of 5.72% in that time.
ALGN will be looking to display strength as it nears its next earnings release, which is expected to be April 28, 2021. On that day, ALGN is projected to report earnings of $2 per share, which would represent year-over-year growth of 173.97%. Our most recent consensus estimate is calling for quarterly revenue of $826.24 million, up 49.96% from the year-ago period.
ALGN's full-year Zacks Consensus Estimates are calling for earnings of $9.23 per share and revenue of $3.52 billion. These results would represent year-over-year changes of +75.81% and +42.57%, respectively.
Any recent changes to analyst estimates for ALGN should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.22% higher. ALGN is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that ALGN has a Forward P/E ratio of 65.72 right now. Its industry sports an average Forward P/E of 24.06, so we one might conclude that ALGN is trading at a premium comparatively.
Also, we should mention that ALGN has a PEG ratio of 3.32. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Dental Supplies was holding an average PEG ratio of 2.26 at yesterday's closing price.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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