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Align Technology Inc. (ALGN): Today's Featured Health Care Laggard

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

Align Technology ( ALGN) pushed the Health Care sector lower today making it today's featured Health Care laggard. The sector as a whole closed the day up 0.8%. By the end of trading, Align Technology fell 37 cents (-1.3%) to $28.94 on light volume. Throughout the day, 547,372 shares of Align Technology exchanged hands as compared to its average daily volume of 1.7 million shares. The stock ranged in price between $28.59-$29.31 after having opened the day at $29.25 as compared to the previous trading day's close of $29.31. Other companies within the Health Care sector that declined today were: Codexis ( CDXS), down 9.8%, Acura Pharmaceuticals ( ACUR), down 9.5%, Achillion Pharmaceuticals ( ACHN), down 9.3%, and Urologix ( ULGX), down 9.2%.

  • EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.

Align Technology, Inc. designs, manufactures, and markets the invisalign system for treating malocclusion or the misalignment of teeth. Invisalign corrects malocclusion using a series of clear, nearly invisible, removable appliances that gently move teeth to a desired final position. Align Technology has a market cap of $2.37 billion and is part of the health services industry. The company has a P/E ratio of 34.7, above the S&P 500 P/E ratio of 17.7. Shares are up 5.1% year to date as of the close of trading on Friday. Currently there are eight analysts that rate Align Technology a buy, no analysts rate it a sell, and three rate it a hold.

TheStreet Ratings rates Align Technology as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the positive front, Peregrine Pharmaceuticals ( PPHM), up 80%, EntreMed ( ENMD), up 26.3%, Medical Action Industries ( MDCI), up 25.7%, and Epocrates ( EPOC), up 21.4%, were all gainers within the health care sector with HCA Holdings ( HCA) being today's featured health care sector leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the health care sector could consider Health Care Select Sector SPDR ( XLV) while those bearish on the health care sector could consider ProShares Ultra Short Health Care ( RXD).

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