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

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Align Technology ( ALGN) pushed the Health Services industry lower today making it today's featured Health Services laggard. The industry as a whole closed the day down 0.3%. By the end of trading, Align Technology fell $0.56 (-1.0%) to $54.67 on light volume. Throughout the day, 922,623 shares of Align Technology exchanged hands as compared to its average daily volume of 1,252,400 shares. The stock ranged in price between $54.04-$55.51 after having opened the day at $54.74 as compared to the previous trading day's close of $55.23. Other companies within the Health Services industry that declined today were: Genomic Health ( GHDX), down 8.9%, BioTelemetry ( BEAT), down 8.6%, Uroplasty ( UPI), down 6.6% and Spherix ( SPEX), down 5.9%.

Align Technology, Inc. operates as a medical device company primarily in the United States and internationally. Align Technology has a market cap of $4.4 billion and is part of the health care sector. Shares are down 3.3% year to date as of the close of trading on Tuesday. Currently there are 5 analysts that rate Align Technology a buy, no analysts rate it a sell, and 4 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 robust revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, increase in net income and solid stock price performance. 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, Medical Action Industries ( MDCI), up 22.8%, Covance ( CVD), up 5.5%, Centene Corporation ( CNC), up 5.4% and Foundation Medicine ( FMI), up 4.8% , were all gainers within the health services industry with Medtronic ( MDT) 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 ( XLV) while those bearish on the health services industry could consider ProShares Ultra Short Health Care ( RXD).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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