The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Alignment Healthcare (ALHC) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Alignment Healthcare is a member of our Medical group, which includes 999 different companies and currently sits at #5 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 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. Alignment Healthcare is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALHC's full-year earnings has moved 34.1% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ALHC has returned 44.4% so far this year. Meanwhile, stocks in the Medical group have lost about 4.8% on average. This means that Alignment Healthcare is outperforming the sector as a whole this year.
BridgeBio Pharma (BBIO) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 22.8%.
In BridgeBio Pharma's case, the consensus EPS estimate for the current year increased 8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Alignment Healthcare belongs to the Medical Services industry, a group that includes 58 individual stocks and currently sits at #52 in the Zacks Industry Rank. This group has lost an average of 1.9% so far this year, so ALHC is performing better in this area.
BridgeBio Pharma, however, belongs to the Medical - Generic Drugs industry. Currently, this 11-stock industry is ranked #198. The industry has moved -15.1% so far this year.
Going forward, investors interested in Medical stocks should continue to pay close attention to Alignment Healthcare and BridgeBio Pharma as they could maintain their solid performance.
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Alignment Healthcare, Inc. (ALHC): Free Stock Analysis Report BridgeBio Pharma, Inc. (BBIO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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