For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Teva Pharmaceutical Industries Ltd. (TEVA) one of those stocks right now? 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.
Teva Pharmaceutical Industries Ltd. is a member of our Medical group, which includes 925 different companies and currently sits at #8 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. Teva Pharmaceutical Industries Ltd. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for TEVA's full-year earnings has moved 1.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that TEVA has returned about 8.7% since the start of the calendar year. Meanwhile, stocks in the Medical group have gained about 2% on average. This shows that Teva Pharmaceutical Industries Ltd. is outperforming its peers so far this year.
ALX Oncology Holdings Inc. (ALXO) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 116.8%.
The consensus estimate for ALX Oncology Holdings Inc.'s current year EPS has increased 26.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Teva Pharmaceutical Industries Ltd. belongs to the Medical - Generic Drugs industry, which includes 11 individual stocks and currently sits at #166 in the Zacks Industry Rank. Stocks in this group have gained about 2.7% so far this year, so TEVA is performing better this group in terms of year-to-date returns.
ALX Oncology Holdings Inc., however, belongs to the Medical - Biomedical and Genetics industry. Currently, this 447-stock industry is ranked #89. The industry has moved +9.5% so far this year.
Teva Pharmaceutical Industries Ltd. and ALX Oncology Holdings 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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Teva Pharmaceutical Industries Ltd. (TEVA): Free Stock Analysis Report ALX Oncology Holdings Inc. (ALXO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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