Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has NeoGenomics (NEO - 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.
NeoGenomics is one of 841 companies in the Medical group. The Medical group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. NEO is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for NEO's full-year earnings has moved 28% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, NEO has moved about 78.56% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 3.88% on average. This means that NeoGenomics is outperforming the sector as a whole this year.
Breaking things down more, NEO is a member of the Medical - Biomedical and Genetics industry, which includes 341 individual companies and currently sits at #70 in the Zacks Industry Rank. This group has lost an average of 13.54% so far this year, so NEO is performing better in this area.
NEO will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.