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For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Alcon (ALC - 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.
Alcon is one of 891 individual stocks in the Medical sector. Collectively, these companies sit at #7 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. Alcon is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALC's full-year earnings has moved 3.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ALC has moved about 1.2% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -5.8% on a year-to-date basis. This shows that Alcon is outperforming its peers so far this year.
Another Medical stock, which has outperformed the sector so far this year, is Brainsway Ltd. Sponsored ADR (BWAY - Free Report) . The stock has returned 51.3% year-to-date.
In Brainsway Ltd. Sponsored ADR's case, the consensus EPS estimate for the current year increased 5.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Alcon belongs to the Medical - Instruments industry, a group that includes 77 individual companies and currently sits at #87 in the Zacks Industry Rank. This group has lost an average of 12.9% so far this year, so ALC is performing better in this area.
On the other hand, Brainsway Ltd. Sponsored ADR belongs to the Medical - Products industry. This 78-stock industry is currently ranked #157. The industry has moved -13.4% year to date.
Going forward, investors interested in Medical stocks should continue to pay close attention to Alcon and Brainsway Ltd. Sponsored ADR as they could maintain their solid performance.
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Are Medical Stocks Lagging Alcon (ALC) This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Alcon (ALC - 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.
Alcon is one of 891 individual stocks in the Medical sector. Collectively, these companies sit at #7 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. Alcon is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALC's full-year earnings has moved 3.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ALC has moved about 1.2% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -5.8% on a year-to-date basis. This shows that Alcon is outperforming its peers so far this year.
Another Medical stock, which has outperformed the sector so far this year, is Brainsway Ltd. Sponsored ADR (BWAY - Free Report) . The stock has returned 51.3% year-to-date.
In Brainsway Ltd. Sponsored ADR's case, the consensus EPS estimate for the current year increased 5.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Alcon belongs to the Medical - Instruments industry, a group that includes 77 individual companies and currently sits at #87 in the Zacks Industry Rank. This group has lost an average of 12.9% so far this year, so ALC is performing better in this area.
On the other hand, Brainsway Ltd. Sponsored ADR belongs to the Medical - Products industry. This 78-stock industry is currently ranked #157. The industry has moved -13.4% year to date.
Going forward, investors interested in Medical stocks should continue to pay close attention to Alcon and Brainsway Ltd. Sponsored ADR as they could maintain their solid performance.