For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Thermo Fisher Scientific (TMO - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of TMO and the rest of the Medical group's stocks.
Thermo Fisher Scientific is one of 842 companies in the Medical group. The Medical group currently sits at #2 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. TMO is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for TMO's full-year earnings has moved 0.63% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, TMO has gained about 17.86% so far this year. Meanwhile, stocks in the Medical group have about 0% on average. As we can see, Thermo Fisher Scientific is performing better than its sector in the calendar year.
Breaking things down more, TMO is a member of the Medical - Instruments industry, which includes 90 individual companies and currently sits at #61 in the Zacks Industry Rank.
TMO will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.