Investors focused on the Medical space have likely heard of ABIOMED (ABMD - 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 ABMD and the rest of the Medical group's stocks.
ABIOMED is one of 763 companies in the Medical group. The Medical group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ABMD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ABMD's full-year earnings has moved 6.18% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ABMD has returned about 110.48% since the start of the calendar year. At the same time, Medical stocks have lost an average of 0.78%. This means that ABIOMED is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ABMD belongs to the Medical - Instruments industry, which includes 88 individual stocks and currently sits at #113 in the Zacks Industry Rank. Stocks in this group have lost about 6.32% so far this year, so ABMD is performing better this group in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track ABMD. The stock will be looking to continue its solid performance.