ALGN, SYK And ABT, Pushing Health Services Industry Downward

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 14 points (0.1%) at 16,515 as of Thursday, April 24, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,645 issues advancing vs. 1,332 declining with 182 unchanged.

The Health Services industry currently sits up 0.2% versus the S&P 500, which is up 0.3%. A company within the industry that fell today was Thermo Fisher Scientific ( TMO), up 3.0%.

TheStreet would like to highlight 3 stocks pushing the industry lower today:

3. Align Technology ( ALGN) is one of the companies pushing the Health Services industry lower today. As of noon trading, Align Technology is down $2.34 (-4.5%) to $50.11 on heavy volume. Thus far, 1.8 million shares of Align Technology exchanged hands as compared to its average daily volume of 1.0 million shares. The stock has ranged in price between $48.56-$52.80 after having opened the day at $52.25 as compared to the previous trading day's close of $52.45.

Align Technology, Inc. operates as a medical device company primarily in the United States and internationally. Align Technology has a market cap of $4.2 billion and is part of the health care sector. Shares are down 8.2% year-to-date as of the close of trading on Wednesday. Currently there are 6 analysts that rate Align Technology a buy, no analysts rate it a sell, and 3 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 expanding profit margins. 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. Get the full Align Technology Ratings Report now.

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