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Has Abbott Laboratories (ABT) Outpaced Other Medical Stocks This Year?

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Investors focused on the Medical space have likely heard of Abbott Laboratories (ABT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of ABT and the rest of the Medical group's stocks.

Abbott Laboratories is one of 1122 individual stocks in the Medical sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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

Over the past 90 days, the Zacks Consensus Estimate for ABT's full-year earnings has moved 14.38% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, ABT has gained about 15.61% so far this year. Meanwhile, the Medical sector has returned an average of -4.84% on a year-to-date basis. This means that Abbott Laboratories is performing better than its sector in terms of year-to-date returns.

Looking more specifically, ABT belongs to the Medical - Products industry, which includes 89 individual stocks and currently sits at #154 in the Zacks Industry Rank. On average, this group has gained an average of 3.88% so far this year, meaning that ABT is performing better in terms of year-to-date returns.

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

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