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) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Align Technology is one of 1050 companies in the Medical group. The Medical group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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).

Within the past quarter, the Zacks Consensus Estimate for ALGN's full-year earnings has moved 2.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, ALGN has moved about 5.1% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 2.2% on average. This means that Align Technology is outperforming the sector as a whole this year.

Another stock in the Medical sector, Aadi Bioscience, Inc. (AADI), has outperformed the sector so far this year. The stock's year-to-date return is 5%.

The consensus estimate for Aadi Bioscience, Inc.'s current year EPS has increased 7.7% 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, a group that includes 15 individual stocks and currently sits at #169 in the Zacks Industry Rank. This group has gained an average of 0.9% so far this year, so ALGN is performing better in this area.

In contrast, Aadi Bioscience, Inc. falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 506 stocks and is ranked #80. Since the beginning of the year, the industry has moved -3.9%.

Investors interested in the Medical sector may want to keep a close eye on Align Technology and Aadi Bioscience, Inc. as they attempt to continue their solid performance.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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