For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has ANI Pharmaceuticals (ANIP) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
ANI Pharmaceuticals is one of 1003 individual stocks in the Medical sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ANI Pharmaceuticals is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ANIP's full-year earnings has moved 24% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ANIP has returned 22.1% so far this year. At the same time, Medical stocks have lost an average of 4.8%. This means that ANI Pharmaceuticals is outperforming the sector as a whole this year.
One other Medical stock that has outperformed the sector so far this year is Galectin Therapeutics Inc. (GALT). The stock is up 2.3% year-to-date.
Over the past three months, Galectin Therapeutics Inc.'s consensus EPS estimate for the current year has increased 3.3%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, ANI Pharmaceuticals is a member of the Medical - Biomedical and Genetics industry, which includes 509 individual companies and currently sits at #78 in the Zacks Industry Rank. On average, this group has lost an average of 5.8% so far this year, meaning that ANIP is performing better in terms of year-to-date returns.
On the other hand, Galectin Therapeutics Inc. belongs to the Medical - Drugs industry. This 162-stock industry is currently ranked #82. The industry has moved -8.9% year to date.
Investors with an interest in Medical stocks should continue to track ANI Pharmaceuticals and Galectin Therapeutics Inc. These stocks will be looking to continue their solid performance.
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ANI Pharmaceuticals, Inc. (ANIP): Free Stock Analysis Report Galectin Therapeutics Inc. (GALT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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