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Is Olink Holding (OLK) 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. Is Olink Holding AB publ Sponsored ADR (OLK - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Olink Holding AB publ Sponsored ADR is a member of the Medical sector. This group includes 1184 individual stocks and currently holds a Zacks Sector Rank of #2. 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. Olink Holding AB publ Sponsored ADR is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for OLK's full-year earnings has moved 44.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, OLK has returned 19.6% so far this year. Meanwhile, the Medical sector has returned an average of -17.9% on a year-to-date basis. This means that Olink Holding AB publ Sponsored ADR is performing better than its sector in terms of year-to-date returns.
Oncolytics Biotech Inc. (ONCY - Free Report) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 10.8%.
The consensus estimate for Oncolytics Biotech Inc.'s current year EPS has increased 9.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Olink Holding AB publ Sponsored ADR belongs to the Medical Info Systems industry, a group that includes 49 individual stocks and currently sits at #133 in the Zacks Industry Rank. Stocks in this group have lost about 66.6% so far this year, so OLK is performing better this group in terms of year-to-date returns.
On the other hand, Oncolytics Biotech Inc. belongs to the Medical - Biomedical and Genetics industry. This 560-stock industry is currently ranked #54. The industry has moved -18.3% year to date.
Olink Holding AB publ Sponsored ADR and Oncolytics Biotech Inc. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.