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Is Elevance Health, Inc. (ELV) Outperforming Other Medical Stocks 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. Elevance Health (ELV - 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? 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.
Elevance Health is one of 1184 individual stocks in the Medical sector. Collectively, these companies sit at #2 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. Elevance Health is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ELV's full-year earnings has moved 0.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ELV has moved about 9.4% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 17.8% on average. As we can see, Elevance Health is performing better than its sector in the calendar year.
Another Medical stock, which has outperformed the sector so far this year, is Genmab AS Sponsored ADR (GMAB - Free Report) . The stock has returned 11.2% year-to-date.
The consensus estimate for Genmab AS Sponsored ADR's current year EPS has increased 30.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Elevance Health belongs to the Medical Services industry, a group that includes 70 individual companies and currently sits at #125 in the Zacks Industry Rank. On average, stocks in this group have lost 31.1% this year, meaning that ELV is performing better in terms of year-to-date returns.
Genmab AS Sponsored ADR, however, belongs to the Medical - Biomedical and Genetics industry. Currently, this 560-stock industry is ranked #55. The industry has moved -18.1% so far this year.
Elevance Health and Genmab AS Sponsored ADR could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Is Elevance Health, Inc. (ELV) Outperforming Other Medical Stocks This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Elevance Health (ELV - 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? 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.
Elevance Health is one of 1184 individual stocks in the Medical sector. Collectively, these companies sit at #2 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. Elevance Health is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ELV's full-year earnings has moved 0.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ELV has moved about 9.4% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 17.8% on average. As we can see, Elevance Health is performing better than its sector in the calendar year.
Another Medical stock, which has outperformed the sector so far this year, is Genmab AS Sponsored ADR (GMAB - Free Report) . The stock has returned 11.2% year-to-date.
The consensus estimate for Genmab AS Sponsored ADR's current year EPS has increased 30.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Elevance Health belongs to the Medical Services industry, a group that includes 70 individual companies and currently sits at #125 in the Zacks Industry Rank. On average, stocks in this group have lost 31.1% this year, meaning that ELV is performing better in terms of year-to-date returns.
Genmab AS Sponsored ADR, however, belongs to the Medical - Biomedical and Genetics industry. Currently, this 560-stock industry is ranked #55. The industry has moved -18.1% so far this year.
Elevance Health and Genmab AS Sponsored ADR could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.