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Is Centene (CNC) Stock Outpacing Its Medical Peers This Year?

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The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Centene (CNC - Free Report) one of those stocks right now? 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 833 companies in the Medical group. The Medical group currently sits at #3 within the Zacks Sector Rank. 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. 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 1.20% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, CNC has gained about 2.60% so far this year. In comparison, Medical companies have returned an average of 10.05%. This means that Centene is outperforming the sector as a whole this year.

To break things down more, CNC belongs to the Medical - HMOs industry, a group that includes 11 individual companies and currently sits at #26 in the Zacks Industry Rank. This group has gained an average of 3.90% so far this year, so CNC is slightly underperforming its industry in this area.

Investors in the Medical sector will want to keep a close eye on CNC as it attempts to continue its solid performance.


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