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? 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.
ABIOMED is one of 763 companies in the Medical group. The Medical group currently sits at #13 within 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ABMD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ABMD's full-year earnings has moved 8.20% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, ABMD has returned 128.57% so far this year. Meanwhile, stocks in the Medical group have gained about 0.75% on average. 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 #106 in the Zacks Industry Rank. On average, stocks in this group have lost 4.22% this year, meaning that ABMD is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to ABMD as it looks to continue its solid performance.