For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Solventum (SOLV) 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.
Solventum is one of 946 individual stocks in the Medical sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Solventum is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SOLV's full-year earnings has moved 1.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, SOLV has moved about 21.2% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 7.9% on average. This means that Solventum is performing better than its sector in terms of year-to-date returns.
Cronos Group (CRON) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 31.7%.
The consensus estimate for Cronos Group's current year EPS has increased 87.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Solventum is a member of the Medical Services industry, which includes 62 individual companies and currently sits at #160 in the Zacks Industry Rank. Stocks in this group have gained about 7.6% so far this year, so SOLV is performing better this group in terms of year-to-date returns.
On the other hand, Cronos Group belongs to the Medical - Drugs industry. This 146-stock industry is currently ranked #82. The industry has moved +8.4% year to date.
Investors interested in the Medical sector may want to keep a close eye on Solventum and Cronos Group as they attempt to continue their solid performance.
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Solventum Corporation (SOLV): Free Stock Analysis Report Cronos Group Inc. (CRON): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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