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Has Centene (CNC) Outpaced Other Medical Stocks This Year?

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Investors focused on the Medical space have likely heard of Centene (CNC - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.

Centene is one of 761 companies in the Medical group. The Medical group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. CNC is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CNC's full-year earnings has moved 0.07% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, CNC has returned 31.87% so far this year. At the same time, Medical stocks have gained an average of 3.95%. This means that Centene is outperforming the sector as a whole this year.

Looking more specifically, CNC belongs to the Medical - HMOs industry, which includes 13 individual stocks and currently sits at #32 in the Zacks Industry Rank. This group has gained an average of 15.66% so far this year, so CNC is performing better in this area.

Investors with an interest in Medical stocks should continue to track CNC. The stock will be looking to continue its solid performance.


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