For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Elanco Animal Health Incorporated (ELAN) been one of those stocks this year? 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.
Elanco Animal Health Incorporated is one of 956 individual stocks in the Medical sector. Collectively, these companies sit at #5 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Elanco Animal Health Incorporated is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ELAN's full-year earnings has moved 6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ELAN has returned about 78.5% since the start of the calendar year. In comparison, Medical companies have returned an average of 1.8%. This shows that Elanco Animal Health Incorporated is outperforming its peers so far this year.
Another Medical stock, which has outperformed the sector so far this year, is Eupraxia Pharmaceuticals Inc. (EPRX). The stock has returned 73.2% year-to-date.
The consensus estimate for Eupraxia Pharmaceuticals Inc.'s current year EPS has increased 7.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Elanco Animal Health Incorporated belongs to the Medical - Outpatient and Home Healthcare industry, a group that includes 15 individual companies and currently sits at #39 in the Zacks Industry Rank. This group has gained an average of 10.5% so far this year, so ELAN is performing better in this area.
On the other hand, Eupraxia Pharmaceuticals Inc. belongs to the Medical - Biomedical and Genetics industry. This 470-stock industry is currently ranked #92. The industry has moved +10.5% year to date.
Elanco Animal Health Incorporated and Eupraxia Pharmaceuticals Inc. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Elanco Animal Health Incorporated (ELAN): Free Stock Analysis Report Eupraxia Pharmaceuticals Inc. (EPRX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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