The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Allurion Technologies, Inc. (ALUR) one of those stocks right now? 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.
Allurion Technologies, Inc. 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 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. Allurion Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ALUR's full-year earnings has moved 73.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ALUR has returned 1.6% so far this year. Meanwhile, stocks in the Medical group have gained about 1.6% on average.
One other Medical stock that has outperformed the sector so far this year is McKesson (MCK). The stock is up 18.8% year-to-date.
In McKesson's case, the consensus EPS estimate for the current year increased 1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Allurion Technologies, Inc. is a member of the Medical - Products industry, which includes 82 individual companies and currently sits at #139 in the Zacks Industry Rank. Stocks in this group have lost about 1.5% so far this year, so ALUR is performing better this group in terms of year-to-date returns.
McKesson, however, belongs to the Medical - Dental Supplies industry. Currently, this 15-stock industry is ranked #68. The industry has moved +7.5% so far this year.
Investors with an interest in Medical stocks should continue to track Allurion Technologies, Inc. and McKesson. These stocks will be looking to continue their solid performance.
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Allurion Technologies, Inc. (ALUR): Free Stock Analysis Report McKesson Corporation (MCK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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