For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Quest Diagnostics (DGX) 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.
Quest Diagnostics is a member of the Medical sector. This group includes 946 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. Quest Diagnostics is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DGX's full-year earnings has moved 0.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, DGX has moved about 16.9% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 7.6% on average. This shows that Quest Diagnostics is outperforming its peers so far this year.
Another stock in the Medical sector, Elicio Therapeutics (ELTX), has outperformed the sector so far this year. The stock's year-to-date return is 58.4%.
Over the past three months, Elicio Therapeutics' consensus EPS estimate for the current year has increased 5.6%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Quest Diagnostics belongs to the Medical - Outpatient and Home Healthcare industry, which includes 15 individual stocks and currently sits at #56 in the Zacks Industry Rank. On average, this group has gained an average of 7.6% so far this year, meaning that DGX is performing better in terms of year-to-date returns.
In contrast, Elicio Therapeutics falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 464 stocks and is ranked #96. Since the beginning of the year, the industry has moved +20.8%.
Investors with an interest in Medical stocks should continue to track Quest Diagnostics and Elicio Therapeutics. These stocks will be looking to continue their solid performance.
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Quest Diagnostics Incorporated (DGX): Free Stock Analysis Report Elicio Therapeutics, Inc. (ELTX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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