For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. 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? One simple way to answer this question is to take a look at the year-to-date performance of TMO and the rest of the Medical group's stocks.
Thermo Fisher Scientific is one of 933 individual stocks in the Medical sector. Collectively, these companies sit at #15 in 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. TMO is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for TMO's full-year earnings has moved 24.63% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, TMO has moved about 43.04% on a year-to-date basis. In comparison, Medical companies have returned an average of 2.43%. As we can see, Thermo Fisher Scientific is performing better than its sector in the calendar year.
Looking more specifically, TMO belongs to the Medical - Instruments industry, a group that includes 95 individual stocks and currently sits at #185 in the Zacks Industry Rank. This group has gained an average of 20.01% so far this year, so TMO is performing better in this area.
Investors with an interest in Medical stocks should continue to track TMO. The stock will be looking to continue its solid performance.