Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Horizon Therapeutics Public Limited (HZNP - 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.
Horizon Therapeutics Public Limited is one of 933 companies in the Medical group. The Medical group currently sits at #14 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 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. HZNP is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for HZNP's full-year earnings has moved 66.13% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, HZNP has gained about 121.85% so far this year. Meanwhile, the Medical sector has returned an average of 1.60% on a year-to-date basis. This shows that Horizon Therapeutics Public Limited is outperforming its peers so far this year.
Looking more specifically, HZNP belongs to the Medical - Biomedical and Genetics industry, which includes 416 individual stocks and currently sits at #174 in the Zacks Industry Rank. On average, stocks in this group have gained 2.61% this year, meaning that HZNP is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to HZNP as it looks to continue its solid performance.