Align Technology surpassed the S&P 500 Index’s gains
On September 28, Align Technology (ALGN) stock registered a year-to-date rise of ~74.0%. In the same period, the S&P 500 Index has returned ~9.0%. Align Technology’s uptrend is driven by strong investor sentiment, triggered by the company’s strong fundamentals and growth potential. Over the last 12 months, ALGN stock has risen ~114.0%, which is extremely high in comparison to the S&P 500 Index’s return of ~17.0% over the same period.
Align Technology (ALGN) stock is highly volatile in comparison to the market, as reflected by its beta of 1.52 on September 28. A beta that’s higher than 1.0 suggests that a stock is more volatile than the market, while a beta that’s lower than 1.0 is representative of a less volatile stock in comparison to the market.
Industry and peer comparisons
On September 28, Align Technology’s peers Danaher (DHR), Dentsply Sirona (XRAY), and Zimmer Biomet Holdings (ZBH) had generated returns of 26.6%, -36.5%, and 11.6%, respectively, over the last 12 months. The year-to-date returns of DHR, XRAY, and ZBN stand at 16.6%, -42.3%, and 7.5%, respectively.
The Health Care Select Sector SPDR ETF (XLV) and the iShares US Medical Devices ETF (IHI) have generated returns of ~14.7% and ~30.4%, respectively, year-to-date. The industry and peer stock performances show that Align Technology has largely surpassed its peers and average industry gains in 2018.
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