The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Amgen (AMGN) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Amgen is one of 986 individual stocks in the Medical sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Amgen is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AMGN's full-year earnings has moved 1.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AMGN has returned about 14% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of -3.9% on a year-to-date basis. This means that Amgen is outperforming the sector as a whole this year.
Aldeyra Therapeutics, Inc. (ALDX) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 0.4%.
For Aldeyra Therapeutics, Inc., the consensus EPS estimate for the current year has increased 12.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Amgen belongs to the Medical - Biomedical and Genetics industry, which includes 494 individual stocks and currently sits at #77 in the Zacks Industry Rank. On average, this group has gained an average of 0.1% so far this year, meaning that AMGN is performing better in terms of year-to-date returns.
On the other hand, Aldeyra Therapeutics, Inc. belongs to the Medical - Drugs industry. This 155-stock industry is currently ranked #90. The industry has moved +5.3% year to date.
Investors with an interest in Medical stocks should continue to track Amgen and Aldeyra Therapeutics, Inc.. These stocks will be looking to continue their solid performance.
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Amgen Inc. (AMGN): Free Stock Analysis Report Aldeyra Therapeutics, Inc. (ALDX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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