For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Arcellx, Inc. (ACLX) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Arcellx, Inc. is one of 932 companies in the Medical group. The Medical group currently sits at #8 within 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. Arcellx, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ACLX's full-year earnings has moved 1.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ACLX has returned about 10.7% since the start of the calendar year. At the same time, Medical stocks have gained an average of 6%. As we can see, Arcellx, Inc. is performing better than its sector in the calendar year.
Another Medical stock, which has outperformed the sector so far this year, is Bayer Aktiengesellschaft (BAYRY). The stock has returned 15.6% year-to-date.
For Bayer Aktiengesellschaft, the consensus EPS estimate for the current year has increased 4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Arcellx, Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 453 individual companies and currently sits at #93 in the Zacks Industry Rank. Stocks in this group have gained about 17.4% so far this year, so ACLX is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, Bayer Aktiengesellschaft falls under the Large Cap Pharmaceuticals industry. Currently, this industry has 11 stocks and is ranked #100. Since the beginning of the year, the industry has moved +19.8%.
Arcellx, Inc. and Bayer Aktiengesellschaft could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Arcellx, Inc. (ACLX): Free Stock Analysis Report Bayer Aktiengesellschaft (BAYRY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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