Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Amarin (AMRN) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Amarin is a member of the Medical sector. This group includes 988 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Amarin is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AMRN's full-year earnings has moved 54.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, AMRN has returned 73.3% so far this year. At the same time, Medical stocks have lost an average of 2.7%. This shows that Amarin is outperforming its peers so far this year.
Abbott (ABT) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 20.5%.
In Abbott's case, the consensus EPS estimate for the current year increased 0.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Amarin belongs to the Medical - Biomedical and Genetics industry, a group that includes 496 individual stocks and currently sits at #86 in the Zacks Industry Rank. This group has lost an average of 2.2% so far this year, so AMRN is performing better in this area.
In contrast, Abbott falls under the Medical - Products industry. Currently, this industry has 84 stocks and is ranked #151. Since the beginning of the year, the industry has moved +7.6%.
Amarin and Abbott could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Amarin Corporation PLC (AMRN): Free Stock Analysis Report Abbott Laboratories (ABT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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