Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Genomic Health (GHDX - 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.
Genomic Health 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 includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. GHDX is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for GHDX's full-year earnings has moved 62.82% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, GHDX has returned 8.87% so far this year. Meanwhile, the Medical sector has returned an average of 2.25% on a year-to-date basis. This shows that Genomic Health is outperforming its peers so far this year.
To break things down more, GHDX belongs to the Medical - Biomedical and Genetics industry, a group that includes 345 individual companies and currently sits at #58 in the Zacks Industry Rank. On average, stocks in this group have gained 11.18% this year, meaning that GHDX is slightly underperforming its industry in terms of year-to-date returns.
GHDX will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.