The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Amneal Pharmaceuticals (AMRX) 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.
Amneal Pharmaceuticals is one of 998 companies in the Medical group. The Medical group currently sits at #6 within 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 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. Amneal Pharmaceuticals is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMRX's full-year earnings has moved 5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, AMRX has gained about 0.5% so far this year. At the same time, Medical stocks have lost an average of 1.5%. This means that Amneal Pharmaceuticals is performing better than its sector in terms of year-to-date returns.
One other Medical stock that has outperformed the sector so far this year is Bayer Aktiengesellschaft (BAYRY). The stock is up 64.6% year-to-date.
In Bayer Aktiengesellschaft's case, the consensus EPS estimate for the current year increased 3.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Amneal Pharmaceuticals belongs to the Medical - Drugs industry, which includes 164 individual stocks and currently sits at #73 in the Zacks Industry Rank. Stocks in this group have gained about 4.4% so far this year, so AMRX is slightly underperforming its industry this group in terms of year-to-date returns.
Bayer Aktiengesellschaft, however, belongs to the Large Cap Pharmaceuticals industry. Currently, this 11-stock industry is ranked #38. The industry has moved +2.8% so far this year.
Investors with an interest in Medical stocks should continue to track Amneal Pharmaceuticals and Bayer Aktiengesellschaft. These stocks will be looking to continue their solid performance.
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AMNEAL PHARMACEUTICALS, INC. (AMRX): Free Stock Analysis Report Bayer Aktiengesellschaft (BAYRY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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