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



) pushed the Health Services industry lower today making it today's featured Health Services laggard. The industry as a whole closed the day up 0.3%. By the end of trading, Align Technology fell 51 cents (-1.4%) to $36.52 on average volume. Throughout the day, 1.3 million shares of Align Technology exchanged hands as compared to its average daily volume of 1.1 million shares. The stock ranged in price between $36.02-$36.85 after having opened the day at $36.85 as compared to the previous trading day's close of $37.03. Other companies within the Health Services industry that declined today were:

Dehaier Medical Systems



), down 14.4%,

Allied Healthcare Products



), down 7.3%,

Thermogenesis Corporation



), down 7.1%, and




), down 6%.

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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 $3.05 billion and is part of the

health care

sector. The company has a P/E ratio of 34.4, equal to the average health services industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Shares are up 56.1% year to date as of the close of trading on Wednesday. Currently there are eight analysts that rate Align Technology a buy, one analyst rates it a sell, and two rate it a hold.

TheStreet Ratings rates Align Technology as a


. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, compelling growth in net income, solid stock price performance and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.

On the positive front,

Synergetics USA


TheStreet Recommends


), up 13.1%,

Vision-Sciences Inc (DE



), up 7.5%,

Kips Bay Medical



), up 7.5%, and




), up 6.5%, were all gainers within the health services industry with

Health Net



) being today's featured health services industry leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the health services industry could consider

Health Care Select Sector SPDR



) while those bearish on the health services industry could consider

ProShares Ultra Short Health Care




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