Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Akebia Therapeutics (AKBA) 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.
Akebia Therapeutics is one of 983 individual stocks in the Medical sector. Collectively, these companies sit at #7 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. Akebia Therapeutics is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for AKBA's full-year earnings has moved 34.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, AKBA has returned 94% so far this year. In comparison, Medical companies have returned an average of -7.8%. This means that Akebia Therapeutics is performing better than its sector in terms of year-to-date returns.
Another Medical stock, which has outperformed the sector so far this year, is Alignment Healthcare (ALHC). The stock has returned 22.5% year-to-date.
In Alignment Healthcare's case, the consensus EPS estimate for the current year increased 5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Akebia Therapeutics belongs to the Medical - Drugs industry, a group that includes 154 individual stocks and currently sits at #90 in the Zacks Industry Rank. On average, this group has gained an average of 3.6% so far this year, meaning that AKBA is performing better in terms of year-to-date returns.
On the other hand, Alignment Healthcare belongs to the Medical Services industry. This 58-stock industry is currently ranked #85. The industry has moved -7.7% year to date.
Investors with an interest in Medical stocks should continue to track Akebia Therapeutics and Alignment Healthcare. These stocks will be looking to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Akebia Therapeutics, Inc. (AKBA): Free Stock Analysis Report Alignment Healthcare, Inc. (ALHC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
