For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Amneal Pharmaceuticals (AMRX) been one of those stocks this year? 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.
Amneal Pharmaceuticals is a member of our Medical group, which includes 996 different companies and currently sits at #6 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Amneal Pharmaceuticals is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMRX's full-year earnings has moved 4.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, AMRX has returned 2.7% so far this year. Meanwhile, stocks in the Medical group have lost about 4.1% on average. This shows that Amneal Pharmaceuticals is outperforming its peers so far this year.
Another Medical stock, which has outperformed the sector so far this year, is AtriCure (ATRC). The stock has returned 5.6% year-to-date.
For AtriCure, the consensus EPS estimate for the current year has increased 25.1% 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, a group that includes 163 individual stocks and currently sits at #85 in the Zacks Industry Rank. This group has gained an average of 0.6% so far this year, so AMRX is performing better in this area.
AtriCure, however, belongs to the Medical - Products industry. Currently, this 83-stock industry is ranked #155. The industry has moved +6.7% so far this year.
Investors interested in the Medical sector may want to keep a close eye on Amneal Pharmaceuticals and AtriCure as they attempt to continue their solid performance.
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AMNEAL PHARMACEUTICALS, INC. (AMRX): Free Stock Analysis Report AtriCure, Inc. (ATRC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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