Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Allogene Therapeutics (ALLO) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Allogene Therapeutics is a member of our Medical group, which includes 926 different companies and currently sits at #10 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 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. Allogene Therapeutics is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ALLO's full-year earnings has moved 0.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, ALLO has returned 23.4% so far this year. In comparison, Medical companies have returned an average of 0.9%. This means that Allogene Therapeutics is outperforming the sector as a whole this year.
Another Medical stock, which has outperformed the sector so far this year, is McKesson (MCK). The stock has returned 14% year-to-date.
Over the past three months, McKesson's consensus EPS estimate for the current year has increased 0.9%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Allogene Therapeutics belongs to the Medical - Biomedical and Genetics industry, a group that includes 447 individual companies and currently sits at #84 in the Zacks Industry Rank. On average, stocks in this group have gained 6.5% this year, meaning that ALLO is performing better in terms of year-to-date returns.
On the other hand, McKesson belongs to the Medical - Dental Supplies industry. This 15-stock industry is currently ranked #68. The industry has moved +4.5% year to date.
Investors interested in the Medical sector may want to keep a close eye on Allogene Therapeutics and McKesson as they attempt to continue their solid performance.
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Allogene Therapeutics, Inc. (ALLO): Free Stock Analysis Report McKesson Corporation (MCK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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