The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Amgen (AMGN - Free Report) one of those stocks right now? 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.
Amgen is one of 763 individual stocks in the Medical sector. Collectively, these companies sit at #13 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 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. AMGN is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AMGN's full-year earnings has moved 3.17% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that AMGN has returned about 6.15% since the start of the calendar year. At the same time, Medical stocks have gained an average of 0.75%. This shows that Amgen is outperforming its peers so far this year.
Looking more specifically, AMGN belongs to the Medical - Biomedical and Genetics industry, which includes 282 individual stocks and currently sits at #156 in the Zacks Industry Rank. Stocks in this group have lost about 4.28% so far this year, so AMGN is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to AMGN as it looks to continue its solid performance.