Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Thermo Fisher Scientific (TMO - Free Report) 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? 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.
Thermo Fisher Scientific is a member of our Medical group, which includes 902 different companies and currently sits at #11 in 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. TMO is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for TMO's full-year earnings has moved 27.65% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that TMO has returned about 24.76% since the start of the calendar year. Meanwhile, stocks in the Medical group have lost about 1.53% on average. This means that Thermo Fisher Scientific is performing better than its sector in terms of year-to-date returns.
To break things down more, TMO belongs to the Medical - Instruments industry, a group that includes 97 individual companies and currently sits at #173 in the Zacks Industry Rank. On average, this group has gained an average of 12.59% so far this year, meaning that TMO is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track TMO. The stock will be looking to continue its solid performance.