For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has ABIOMED (ABMD - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
ABIOMED is a member of the Medical sector. This group includes 763 individual stocks and currently holds a Zacks Sector Rank of #12. 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. 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 6.65% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ABMD has returned about 118.65% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of 1.45% on a year-to-date basis. This means that ABIOMED is outperforming the sector as a whole this year.
Looking more specifically, ABMD belongs to the Medical - Instruments industry, a group that includes 88 individual stocks and currently sits at #101 in the Zacks Industry Rank. On average, stocks in this group have lost 3.41% this year, meaning that ABMD is performing better in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on ABMD as it attempts to continue its solid performance.