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Is Elevance Health, Inc. (ELV) Outperforming Other Medical Stocks This Year?
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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. 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 a member of our Medical group, which includes 1073 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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).
Over the past 90 days, the Zacks Consensus Estimate for ELV's full-year earnings has moved 0.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ELV has gained about 5.1% so far this year. Meanwhile, the Medical sector has returned an average of 4% on a year-to-date basis. This means that Elevance Health is outperforming the sector as a whole this year.
Another stock in the Medical sector, McKesson (MCK - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 8.4%.
For McKesson, the consensus EPS estimate for the current year has increased 0.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Elevance Health belongs to the Medical Services industry, which includes 60 individual stocks and currently sits at #180 in the Zacks Industry Rank. On average, stocks in this group have gained 2.3% this year, meaning that ELV is performing better in terms of year-to-date returns.
On the other hand, McKesson belongs to the Medical - Dental Supplies industry. This 15-stock industry is currently ranked #157. The industry has moved +2.6% year to date.
Investors with an interest in Medical stocks should continue to track Elevance Health and McKesson. These stocks will be looking to continue their solid performance.
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Is Elevance Health, Inc. (ELV) Outperforming Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. 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 a member of our Medical group, which includes 1073 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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).
Over the past 90 days, the Zacks Consensus Estimate for ELV's full-year earnings has moved 0.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ELV has gained about 5.1% so far this year. Meanwhile, the Medical sector has returned an average of 4% on a year-to-date basis. This means that Elevance Health is outperforming the sector as a whole this year.
Another stock in the Medical sector, McKesson (MCK - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 8.4%.
For McKesson, the consensus EPS estimate for the current year has increased 0.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Elevance Health belongs to the Medical Services industry, which includes 60 individual stocks and currently sits at #180 in the Zacks Industry Rank. On average, stocks in this group have gained 2.3% this year, meaning that ELV is performing better in terms of year-to-date returns.
On the other hand, McKesson belongs to the Medical - Dental Supplies industry. This 15-stock industry is currently ranked #157. The industry has moved +2.6% year to date.
Investors with an interest in Medical stocks should continue to track Elevance Health and McKesson. These stocks will be looking to continue their solid performance.