Is Align Technology (ALGN) Stock Outpacing Its Medical Peers This Year?

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Align Technology (ALGN) been one of those stocks this year? 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 one of 925 companies in the Medical group. The Medical group currently sits at #9 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the 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 3.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Based on the latest available data, ALGN has gained about 21.7% so far this year. In comparison, Medical companies have returned an average of 1.6%. This means that Align Technology is performing better than its sector in terms of year-to-date returns.Another stock in the Medical sector, Bayer Aktiengesellschaft (BAYRY), has outperformed the sector so far this year. The stock's year-to-date return is 18.4%.Over the past three months, Bayer Aktiengesellschaft's consensus EPS estimate for the current year has increased 9.5%. The stock currently has a Zacks Rank #2 (Buy).Breaking things down more, Align Technology is a member of the Medical - Dental Supplies industry, which includes 15 individual companies and currently sits at #80 in the Zacks Industry Rank. Stocks in this group have gained about 6.7% so far this year, so ALGN is performing better this group in terms of year-to-date returns. On the other hand, Bayer Aktiengesellschaft belongs to the Large Cap Pharmaceuticals industry. This 11-stock industry is currently ranked #161. The industry has moved +3.5% year to date.Investors interested in the Medical sector may want to keep a close eye on Align Technology and Bayer Aktiengesellschaft as they attempt to continue their solid performance.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They includeStock #1: A Disruptive Force with Notable Growth and ResilienceStock #2: Bullish Signs Signaling to Buy the DipStock #3: One of the Most Compelling Investments in the MarketStock #4: Leader In a Red-Hot Industry Poised for GrowthStock #5: Modern Omni-Channel Platform Coiled to SpringMost of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.See Our Newest 5 Stocks Set to Double Picks >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Align Technology, Inc. (ALGN): Free Stock Analysis Report Bayer Aktiengesellschaft (BAYRY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks